Gratuity is a lump sum payment given by an employer to an employee who leaves the job after working for at least 5 years. Any ...

What is service requirement to be eligible for gratuity? Employees are eligible for gratuity after completing 5 years of continuous service with the same employer, as per the Payment of Gratuity Act, ...

Gratuity is a one-time payment made by your employer as a gesture of appreciation for your long-term service. As per the Payment of Gratuity Act, 1972, you are eligible if you have completed at least ...

A lump-sum benefit employers pay employees as a reward for loyalty & long service. Gratuity = (Last Drawn Salary × 15 × No. of Years Worked) ÷ 26. Offer letters show gratuity as 4.81% of your annual ...

Let’s calculate gratuity for an employee with a basic salary of Rs 33,000, 8 years, and 5 months of service (rounded to 8 years). Gratuity = (33,000 × 8 × 15) ÷ 26 Gratuity = Rs 1,52,307 What will be ...

Recently, a major change has been made to the gratuity rules under the new labour code. Now, gratuity will be given even ...

The Indian government has announced a major change to the gratuity rules, reducing the eligibility period from 5 years to 1 year. This change, which affects millions of employees, aims to strengthen ...

Gratuity BIG UPDATE: What comes as good news for fixed-term employees across sectors is that they now qualify for gratuity after a year of employment. Earlier, employees were entitled to gratuity ...