Gratuity Calculator: Here's how much you will get after 10 years on basic salary of Rs 50,000
1 month, 1 week ago

Gratuity Calculator: Here's how much you will get after 10 years on basic salary of Rs 50,000

India TV News  

Gratuity Calculator: Here's how much you will get after 10 years on basic salary of Rs 50,000 Gratuity calculator: It is important to know that if an employee has worked for more than 6 months in a company, his service period will be considered as a full year. Eligibility for gratuity As per the current rules, if an employee works in a company for continuous five years, he becomes entitled to receive gratuity. Under the Payment of Gratuity Act, 1972, the benefit of gratuity is given in companies where at least 10 or more employees work. The formula to calculate gratuity is - / 26 Gratuity on basic salary of Rs 50,000 with job tenure of 10 years As per the above-mentioned formula, the gratuity of an employee would be around 2,88,461 It is important to know that if an employee has worked for more than 6 months in a company, his service period will be considered as a full year.

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History of this topic

Q&A: What To Do If Your Employer Is Not Giving Gratuity After Retirement?
11 months, 2 weeks ago

Q&A: What To Do If Your Employer Is Not Giving Gratuity After Retirement?

News 18  

I am a 64-year-old retiree. To answer the queries, yes indeed, as per Section 4 of the Act, the employee is eligible for receipt of gratuity from the institution, for the period of 2000-10, as well as for the period between 2012-2022. In the present case, the employee is eligible to receive Gratuity for the period of 2000-2010, for having …

Can You Claim Gratuity Before 5 Years? Yes, Here's How
1 year, 7 months ago

Can You Claim Gratuity Before 5 Years? Yes, Here's How

News 18  

Gratuity, a financial acknowledgement bestowed by companies to their departing employees, has emerged as a crucial aspect of the employment landscape. However, contrary to common belief, the Gratuity Act presents a provision that allows an employee to claim gratuity even if their tenure falls within 4.8 years or less. The twist emerges when the company cites the 5-year threshold, as …

Payment Of Gratuity Act - No Retrospective Effect For 2010 Amendment Enhancing Gratuity Upper Limit As Rs 10 Lakhs : Supreme Court
3 years, 7 months ago

Payment Of Gratuity Act - No Retrospective Effect For 2010 Amendment Enhancing Gratuity Upper Limit As Rs 10 Lakhs : Supreme Court

Live Law  

The Supreme Court has observed that 2010 amendment of Payment of Gratuity Act 1972 is not retrospective.As per the 2010 amendment, the upper-limit of amount of gratuity payable as per Section 4 of the Payment of Gratuity Act 1972 was increased as Rupees 10 lakhs from Rupees 3.5 lakhs.The appellants before the Supreme Court were former employees of Coal India …

Lower cut-off for gratuity likely
4 years, 7 months ago

Lower cut-off for gratuity likely

Live Mint  

The threshold for gratuity payment may be reduced to just one year from the current five if the Union government accepts the recommendations by a parliamentary standing committee on labour. “The panel desires that the time limit of five years as provided for in the code for payment of gratuity be reduced to continuous service of one year. In the …

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