In which of the sectors, the Gratuity Act applies?
The act provides for the payment of gratuity to workers employed in every factory, shop & Establishments....
What is the applicability criterion for Gratuity?
All the employees irrespective of status or salary are entitled to the payment of...
What is the calculation method for Gratuity?
The Gratuity payable at the rate of 15 days wages based on the rate of wages last....
What is the maximum amount payable under Gratuity Act?
Maximum gratuity payable is Rs 3.50 lakhs. [Section 4(3)] [Of course, employer can....
Gratuity Maximum payable increased from 3.50 lakhs to 10 lakhs w.e.f. 22nd April 2010.
Can I have nomination facility under the Gratuity Act?
Yes, by filling Form âFâ at the time of new joinee formality, each employee....
Can I get tax exemption on the receipt of Gratuity?
Income-Tax exemption - Gratuity received up to Rs. 10 lakhs is exempt from Income....
Is Gratuity applicable to contract employees also?
Yes, the only criterion is to serve at least 5 years....
If I am not covered Under Payment of Gratuity Act, 1971, what would be the Calculation method?
Gratuity shall be calculated as per the below formula....
How Gratuity would factor in the CTC?
It might be useful for you for calculation of Gratuity while working out..