Gratuity eligibility: The Act is applicable

The Act is applicable, to factories, mines, oil fields, plantations, ports, railways, motor transport undertakings, companies, and to shops and other establishments, Employing 10 or more workmen. The Act provides for payment of gratuity at the rate of 15 days wage s for each completed year of service subject to a maximum of Rs. ten lakh. In the case of seasonal establishment, gratuity is payable at the rate of seven days wages for each season. The Act does not affect the right of an employee ... Gratuity in India : Gratuity is a lump-sum payment made by an employer to an employee as a token of appreciation for their long-term service. Governed by the Payment of Gratuity Act , 1972, it applies to employees in both the private and public sectors who meet certain eligibility criteria. Gratuity Calculator : Use ClearTax online gratuity calculator to know gratuity amount of money you will get on retirement. Only those employees who have been employed by the company for five years or more are given the gratuity . Check out gratuity formula, percentage, eligibility , rules in India.