Gratuity calculation for tn govt employees
Answers
Gratuity is of 3 types – Service, death, and Retirement gratuity.
1. Service gratuity – is for people who have less than 10 years of qualifying service. It is calculated at the uniform rate of half a month’s emoluments for every completed six monthly period of service. It is a lumpsum payment.
2. Death Gratuity – if the service is less than 1 year, then the rate of gratuity will be 2 times monthly emoluments; if service is 1 year or more but less than 5 years, then it is 6 times of monthly emoluments; if the service is 5 years or more but less than 20 years, then it is 12 times of monthly emoluments; if the service is more than 20 years, 33 times of monthly emoluments but does not exceed Rs. 10 lakh.
3. Retirement gratuity – for a person who has completed 5 years of qualifying service. The rate of gratuity is 1/4th of emoluments for each completed six monthly period of qualifying service subject to a maximum of 16 1/2 times of monthly emoluments. The ceiling limit is Rs. 10 lakh.
Explanation:
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