Webgratuity ( ɡrəˈtjuːɪtɪ) n, pl -ties 1. (Commerce) a gift or reward, usually of money, for services rendered; tip 2. something given without claim or obligation 3. (Military) military a financial award granted for long or meritorious service WebSep 26, 2024 · The calculation of gratuity is covered as per the formula laid down by the Payments of Gratuity Act, which is – Gratuity = Last drawn salary * (15/26) * Number of years of service An employee can ask for gratuity even before retirement; however only after completing at least 5 years of service with a company
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WebApr 22, 2024 · The amount paid towards the approved gratuity fund created by him exclusively for the benefit of his employees under an irrevocable trusts is allowed as … WebSynonyms of gratuity : something given voluntarily or beyond obligation usually for some service especially : tip added a gratuity for the server Did you know? Gratuity vs. Tip … byron jarrett iowa central
Gratuity - definition of gratuity by The Free Dictionary
WebSep 19, 2024 · A gratuity refers to an amount paid as lump sum money by your employer after you discontinue your services. To be eligible for gratuity, an employee must fulfil some conditions. A gratuity refers to an amount paid as lump sum money by your employer after you discontinue your services. WebDefine gratuity. gratuity synonyms, gratuity pronunciation, gratuity translation, English dictionary definition of gratuity. n. pl. gra·tu·i·ties A favor or gift, usually in the form of … WebDefinition of gratuities plural of gratuity 1 as in tips a small sum of money given for a service over and above what is due for parties of eight or more, we automatically add a 15% … clothing hard tag remover