Hi, I have few queries regarding gratuity entitlement for a Private non listed MNC in India. Request your help on the same :
1) Am I eligible to get gratuity if I have completed 4 years and 11 months in service ? What is the minimum service requirement to be eligible to get gratuity ?
2) Is gratuity taxable ?
3) Is the recent Basic salary + DA considered for gratuity calculation ? Or is it calculated basis each year's basic pay + DA ?
4) If I have completed 4 years 7 months at the time of resigning from my current job and my notice period is 60 days, will I be eligible to get gratuity as on my last working day with the organisation ?
From India, Ahmedabad
1) Am I eligible to get gratuity if I have completed 4 years and 11 months in service ? What is the minimum service requirement to be eligible to get gratuity ?
2) Is gratuity taxable ?
3) Is the recent Basic salary + DA considered for gratuity calculation ? Or is it calculated basis each year's basic pay + DA ?
4) If I have completed 4 years 7 months at the time of resigning from my current job and my notice period is 60 days, will I be eligible to get gratuity as on my last working day with the organisation ?
From India, Ahmedabad
1) Am I eligible to get gratuity if I have completed 4 years and 11 months in service ? What is the minimum service requirement to be eligible to get gratuity ? - Yes, If you have worked for more than 4 years and 240 days in the same organisation then you are entitled for the gratuity claim.
2) Is gratuity taxable ? - Yes, it is exempted from TAX for the gratuity amount below Rs. 20 Lacs
3) Is the recent Basic salary + DA considered for gratuity calculation ? Or is it calculated basis each year's basic pay + DA ? - It will be recent Basic + DA
4) If I have completed 4 years 7 months at the time of resigning from my current job and my notice period is 60 days, will I be eligible to get gratuity as on my last working day with the organisation ? - Yes, your gratuity will be calculated considering last working day in the company. Formula for calculating gratuity is - Basic + DA / 26 * 15 * No of Years in the organtisation
3772) Is gratuity taxable ? - Yes, it is exempted from TAX for the gratuity amount below Rs. 20 Lacs
3) Is the recent Basic salary + DA considered for gratuity calculation ? Or is it calculated basis each year's basic pay + DA ? - It will be recent Basic + DA
4) If I have completed 4 years 7 months at the time of resigning from my current job and my notice period is 60 days, will I be eligible to get gratuity as on my last working day with the organisation ? - Yes, your gratuity will be calculated considering last working day in the company. Formula for calculating gratuity is - Basic + DA / 26 * 15 * No of Years in the organtisation
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Gratuity Eligibility.pdf
Gratuity eligibility for less than 5 yrs. (4yrs.240days). docx