Get Form N Gratuity

Gratuity forms a part of an individual's salary. It is one of the components that make up the gross salary of an individual. In other words, it is a sum of money that is paid to an employee when his employment term ends. It is a form of acknowledgement given to an employee for the services that he has rendered.

Gratuity is computed as 4.81 percent of basic pay under the Payment of Gratuity Act 1972.

Gratuity refers to the amount that an employer pays his employee, in return for services offered by him to the company. However, only those employees who have been employed by the company for five years or more are given the gratuity amount. It is governed by the Payment of Gratuity Act, 1972.

Form F, Employee has to submit a nomination in duplicate to his employer and should get the copy of acknowledgment from employer. Note: It has to be submitted by an employee by personal service or through registered post, but in both the cases employee must take the acknowledgment from the employer.

Central Form F is a form format to nominate the beneficiaries for Gratuity. Suppose you are a salaried individual; nominating the right beneficiaries for the gratuity proceeds is vital. Under the Gratuity Act 1972, Gratuity is given to those who leave the workplace after finishing five years of service.

On gratuity form I we have to write full name of employee and his complete address, department in which he has worked, employee number, date of appointment, date and reason for termination of service, total period of service, last drawn salary.

Gratuity forms a part of an individual's salary. It is one of the components that make up the gross salary of an individual. In other words, it is a sum of money that is paid to an employee when his employment term ends. It is a form of acknowledgement given to an employee for the services that he has rendered.

Gratuity is computed as 4.81 percent of basic pay under the Payment of Gratuity Act 1972.