Hello Friends,
We have a Group Gratuity Scheme of LIC with life Cover. Wherein we pay premium every year to renew the same.Gratuity amt calculated = Last Drawn Basic x 15/26 x Completed Year Service Now i am in the process of restructuring the Salary from Public Sector Line to MNC style i.e. CTC forms Given the background my questions are1. Whether Gratuity forms a part of CTC? 2. Is it legal to include Gratuity in CTC? What is the ususal practice3. How do the benefit per employee to be calculated you know if to be shown in CTC.4. How the Gratuity is valued if you want to know the CTC whether it forms a part of the same or not.5. Please also let me know how Mediclaim is to be valued as benefit to employee - whether it forms a part of CTC or not. Please let me know at earliest.
Regards,
Fanimo