About Gratuity Calculator
Allow to calculate Gratuity 1)Applicability .Every factory (as defined in Factories Act), mine, oilfield, plantation, port and railway. .Every shop or establishment to which Shops & Establishment Act of a State applies in...
Allow to calculate Gratuity
1)Applicability
.Every factory (as defined in Factories Act), mine, oilfield, plantation, port and railway.
.Every shop or establishment to which Shops & Establishment Act of a State applies in which 10 or more persons are employed at any time during the year end.
Any establishment employing 10 or more persons as may be notified by the Central Government.
Once Act applies, it continues to apply even if employment strength falls below 10.
3) Eligibility
Any person employed on wages/salary.
At the time of retirement or resignation or on superannuation, an employee should have rendered continuous service of not less than five years,
In case of death or disablement, the gratuity is payable, even if he has not completed 5 years of service.
4) Benefits
The quantum of gratuity is to be computed at the rate of 15 days wages (7 days wages in case of seasonal establishments) based on rate of wages last drawn by the employee concerned for every completed year of service or a part thereof exceeding 6 months.
The total amount of gratuity payable shall not exceed the prescribed limit.
In case where higher benefit of gratuity is available under any gratuity scheme of the Co., the employee will be entitled to higher benefit
Previous Versions
Here you can find the changelog of Gratuity Calculator since it was posted on our website on 2013-08-21 22:10:49.
The latest version is 2.0.1 and it was updated on 2024-04-23 09:42:43. See below the changes in each version.
Gratuity Calculator version 2.0.1
Updated At: 2011-04-28
Changes: Several fixes and updates
Gratuity Calculator version 2.0.1
Updated At: 2011-04-28
Disclaimer
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