-->
Natural

Featured post

Home Learning -Online Education by DD Girnar and YOU-TUBE,dated-21/01/2021

H ome Learning -Online Education by DD Girnar and YOU-TUBE,dated-21/01/2021 The Gujarat government is running a project called home learning so that school children can study in the Corona epidemic. A project called Home Learning has been launched by the Government of Gujarat to make it easier for stu…

HAK-DAVO, VANDHA ARJIO BABATE ane VOTER ID CARD EPIC VITRAN KARYA ANGE NI CHAKASNI BABAT NEW GR BY GUJARAT CHIEF ELECTION OFFICER

According to this formula, the time period of over six months or more is considered as one year.

This means if you have completed five years and seven months of service, the number of years would be considered as six years for calculation of gratuity benefit.

On the other hand, if the service period is five years and five months, for gratuity calculation it will be considered five years.

An employer can however give higher gratuity than the amount under the prescribed formula.

Maximum Amount

For government employees, Rs. 20 lakh is the maximum amount that can be paid as gratuity. The Seventh Pay Commission had recommended increase in the gratuity ceiling to Rs. 20 lakh from the earlier level of Rs. 10 lakh.

The rule applies to these organizations:

According to a statement issued by the government, the Gratuity Payments Act (1972) applies to the organization wherein 10 or more employees work. The main purpose of which is to provide financial security after the retirement of the employees. Often, even before the scheduled time limit for employee retirement, disability or otherwise will be retired for any other reason. In turn, gratuity can be the main source of income.

2018, GPSC Various Exam 2018, GSSSB Exam 2018,Talati Bharti 2018, Junior Clerk Bharti 2018, Vidyasahayak Bharti 2018,HTAT Bharti 2018, TAT Bharti 2018, GSERB Shikshan Sahayak Bharti

Click hear to view

Related Posts

Post a comment

Your Mail:

Subscribe Our Newsletter by Submitting Your Email