An employee appointed for one year and his contract is renewed every year. He has now completed 14 years of continuous service in the same organization. Is he eligible for gratuity. Please reply.
If an employee has worked with 3 different companies during his service, and has received Rs 10 lakh as Gratuity from the first company (and has worked for >5 yrs in second and third company) a) Is the Gratuity payable by the second and third companies to the employee? b) If yes, is the Rs 10 lakh for the Gratuity limit applicable for the second and third companies? or the limit is applicable to the total Gratuity received by the employee over his life time? Hope the question is clear !!!
Mr. Pradeep, answers to your questions are as below: 1. Yes, the employee is entitled for a gratuity. Second and third employer can pay gratuity in the form or bonus or ex-gratia which when received, would be taxable according to one's tax slab. 2. The limit is applicable to your entire career. Note that the Gratuity limit is all set to increase to Rs. 20 lacs.
Actually I am eligible for gratuity because I worked in one organization for upto 8 years. They approved it also. But I dint receive any mail Or money. I dint get my notice period salary for 2 months.. It's been 54days. But still I am waiting.. I contacted many hr in the organization. But there is no proper answer.. I want to know what is the maximum time to get gratuity? I mean in how many days can I expect?
Thank you mam for the great information, please tell me that if i will leave my organization after serving 4years 7 months , am i eligible for gratuity ?
DA is nothing but Dearness allowance. It is generally a component of salary, of government and public sector employees, which is a certain percentage of their basic pay. It is given to minimise impact of inflation and cost of living across various locations in a country. And hence, it varies from location to location.
Private school teachers (self finance) school employer are included to get gratuity or not ? And if they say we didn't deducted your gratuity from your salary is it correct? Please guide me my mother served as teacher for more than 16 years
[URGENT] Hi, My mom is working in private school. in her payslip there is no gratuity amount deducted from joining since she joined and working for 14 years 10 months. If no deduction from payslip shall we ask school to pay her gratuity amount?
Yadnya Investment Academy she's going to Leave school but in salary slip they are not allocating any money related to gratuity. And she didn't have offer letter right now since it's been 15 years.. Only one thing I want to know, gratuity is provided by employee either amount deducted every month.
Can 4 years , 6 months , 15 days eligible for gratuity, if I work 6 days per week, with one Saturday off in a month?? As per any recent court judgements? Thanks for your reply
As per the Act, to be eligible for gratuity, in the fifth year you need work for atleast 240 days, for an establishment that works for more than 5 days a week.
8 months in the last year of employment can be sufficient for payment only when due to some valid reason you are not able complete the entire year. Companies usually mandate to complete full 5 years for payment of gratuity when you leave.
You mean CTC? CTC - cost to the company, as it suggests it is not just your salary, the the amount company needs to pay to have u as part of their organisation . CTC = Salary(Net+tax ) + PF /+Gratuity
the best explanation for the GRATUITY ACT 1972.
An employee appointed for one year and his contract is renewed every year. He has now completed 14 years of continuous service in the same organization. Is he eligible for gratuity. Please reply.
Thank you Gaurav and yadnya academy for such informative video. Is there a different rule/exception for the companies which has 5 days a week working?
Thank you so much.informational.
Cool, Triumph and Airpot Diner & Sam, its manager, sent me here.
Too good. Will help lot of indian people
Happy we could help, pls do share our videos with your friends too and help us spread awareness...
Nice and Simple explanation
If an employee has worked with 3 different companies during his service, and has received Rs 10 lakh as Gratuity from the first company (and has worked for >5 yrs in second and third company)
a) Is the Gratuity payable by the second and third companies to the employee?
b) If yes, is the Rs 10 lakh for the Gratuity limit applicable for the second and third companies? or the limit is applicable to the total Gratuity received by the employee over his life time?
Hope the question is clear !!!
Mr. Pradeep, answers to your questions are as below:
1. Yes, the employee is entitled for a gratuity. Second and third employer can pay gratuity in the form or bonus or ex-gratia which when received, would be taxable according to one's tax slab.
2. The limit is applicable to your entire career.
Note that the Gratuity limit is all set to increase to Rs. 20 lacs.
Thank you..it very helpful
Happy we could help, pls do subscribe to our channel...
Actually I am eligible for gratuity because I worked in one organization for upto 8 years. They approved it also. But I dint receive any mail Or money. I dint get my notice period salary for 2 months.. It's been 54days. But still I am waiting.. I contacted many hr in the organization. But there is no proper answer.. I want to know what is the maximum time to get gratuity? I mean in how many days can I expect?
I was expecting explanation about how gratuity is calculated based on 190 days and 240 days a year.
4 years 8 months means 5 years right???? I will eligible or not???
Thank you mam for the great information, please tell me that if i will leave my organization after serving 4years 7 months , am i eligible for gratuity ?
No
Hi nice video once again.
Can u explain tax liability of employer over gratuity paid to employees.
This can be claimed as an expense by the employer.
Excellent video. Could you please elaborate on whats "DA" when calculating the last monthly salary drawn (Basic + DA)?
DA is nothing but Dearness allowance. It is generally a component of salary, of government and public sector employees, which is a certain percentage of their basic pay. It is given to minimise impact of inflation and cost of living across various locations in a country. And hence, it varies from location to location.
Can I get gratuity if I leave company after 4 yes, 6 months, 20 days?
Thanks mam
Can a company exclude DA amount while paying Gratuity amount ?
Thnxxxx u dee..... Helpful information.....
Happy to hear that. Please let your family and friends know about our channel and help us spread financial awareness.
thanku ...helpfull for me
Is gratuity payout become taxable if employee didn't complete 5 years of service? Let's say 4 years and 11 months of work on the last day?
Yes, it will be taxable. More details here - TaxYadnya.in
Private school teachers (self finance) school employer are included to get gratuity or not ? And if they say we didn't deducted your gratuity from your salary is it correct? Please guide me my mother served as teacher for more than 16 years
Nice and simple video. Could you specify the concept of 15 in the formula ? Just like 26 is the working days in the Month.
Half months's salary
I have completed 4 years and 9 months, am i eligible for grativity
Smae here. Did you get an answer? I have an offer but am not sure about this.
Yes you are eligbile
Nice video
Nice explanation
Is gratuity a type of loan
What a explanation mam
4.9 years complte. I am eligible or not for gratuity
Y it is multiplied into 15 and divided by 26
Hi, how Gratuity is being taken care in Private Organisations. Is the treatment different? I am working for one IT MNC. Please let us know.
The treatment is same.
Thanks.
Minakshi Karan u
Thxx
Is 5 years of continuous employment with a particular employer the condition or 5 years of continuous employment irrespective of employer ?
Gratuity is a retirement benefit paid as gratitude for working with same employer for 5 years and more.
Mem if employees death before 5 year and after 5 year so in two situation how many taxable/exemption amount calculate?
I worked for an organization for less than 5 years, Am I eligible to receive gratuity ?
No
[URGENT] Hi, My mom is working in private school. in her payslip there is no gratuity amount deducted from joining since she joined and working for 14 years 10 months. If no deduction from payslip shall we ask school to pay her gratuity amount?
Gratuity is not part of Salary slip. She will get it only when she leaves the school. You should check her offer letter for gratuity details.
Yadnya Investment Academy she's going to Leave school but in salary slip they are not allocating any money related to gratuity. And she didn't have offer letter right now since it's been 15 years.. Only one thing I want to know, gratuity is provided by employee either amount deducted every month.
Amount is not deducted every month. Gratuity is not part of Salary slip.
Nice
Thanks
If I completed 4 years 8 month in a complete, should I eligible for GRATUITY
No.
I don't see any DA in my salary.. shall I consider only basic to calculate gratuity.. however thanks alot for teaching all these..
+Rajender Prasad yes
Can 4 years , 6 months , 15 days eligible for gratuity, if I work 6 days per week, with one Saturday off in a month?? As per any recent court judgements? Thanks for your reply
As per the Act, to be eligible for gratuity, in the fifth year you need work for atleast 240 days, for an establishment that works for more than 5 days a week.
@@InvestYadnyahi my organization is 5 days a week and I have completed 4.10 yrs that means 220 working days on the 5th year. Am eligible?
does employee has a period within which he should ask for his payment? period within which employer should do the payment??
+Harshal Dhakan Normally it should be done at tje time of full and final settlement.
will professors of private universities be given gratuty. Is it shown in the pay slip
Your pay slip is itself showing it, so definitely yes!
I have completed 4 years 8 months .... Can I eligible for gratuity
8 months in the last year of employment can be sufficient for payment only when due to some valid reason you are not able complete the entire year. Companies usually mandate to complete full 5 years for payment of gratuity when you leave.
What does basic pay and DA mean
Educational insttutions covered under gratuity ????
Isn’t Gratuity part of employees salary. I mean it is deducted by employees salary, right ?
No, it is not deducted from the salary
You mean CTC?
CTC - cost to the company, as it suggests it is not just your salary, the the amount company needs to pay to have u as part of their organisation . CTC = Salary(Net+tax
) + PF /+Gratuity
Want to multiply of whole month salary or only a basic salary
+vinodh balu Basic Salary
👏
Hello agar company employee Ko 1 se 2 saal mein Nikal deti hai toh kya usko kuch milna chahiye
Nahi
mam...why are 26 n 15 used in that formula ?? cn u plzz xpln ?
This is what is provided in Gratuity Act.
Are PF and grauity are same
Nope. Both are different
is it posible to have NPS for rrb(bank) employee?
+Rahul Mishra Yes
Yadnya Investment Academy is it different from nationalised bank 's NPS policy?
4.7year may gracuty melega kiya
No
Yadnya Investment Academy Why nehi milega
5 years need to be completed.
Please video hindi me banaiye.
Here is Hindi version -ruclips.net/video/i31L2sCaeZY/видео.html
😘😘
itna sara jamela hota he.
Thanks 🙏
Nice