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If it is "Gratuity" or severance benefit to an employee (leaving indemnity) it depends on the local labour laws.
If you are asking about a Gratuity or Tip at a restaurant or for services rendered, it is entirely your own decision.
Unless you clarify what your intention is it is difficult to answer correctly.
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What is the accounting entry for provision for gratuity?
Gratuity a/c dr Provision for gratuity a/c
What is journal entry for gratuity payment?
[Debit] Gratuity [Credit] Cash / bank
Percentage of gratuity?
The percentage of gratuity can vary in different parts of the country. Many people pay a 15 percent gratuity while in bigger cites people pay 20 or 25 percent. Unless a restaurant adds the gratuity to the bill, it is the choice of the customer as to what they pay.
Do you need a separate bank account to disburse the gratuity?
No. There is no such requirement. Gratuity can be paid into your existing bank account itself. If you do not have a bank account already, in that case you may need to open one in order to get the gratuity disbursement but if you have one you can use it.
Can Gratuity be taxed?
Yes. Gratuityup to a maximum of Rs.3.5 lacs is tax free. Any amount above this is taxable However if an employee is eligible for a Gratuity amount of Rs. 2.9 lacs as per the Gratuity formula, but the employer decides to pay him/her Rs.3.25 lacs the amount above the actual eligible amount i.e., the amount above Rs.2.9 lacs is taxable.
How do you calculate gratuity in Sri Lanka?
The amount of gratuity widely changes, but it is usually between 8% and 10%.
How you calculate gratuity amount working in a sole proprietorship company?
i am working for last 7 years in a proprietorship company, how much i can get the gratuity amount and what is law?
What is the accounting entry for provision for gratuity?
Gratuity a/c dr Provision for gratuity a/c
How do you say 'gratuity' in Spanish?
gratificación - gratuity
Is gratuity part of salary?
Gratuity means tip
What is a synonym for gratuity?
A gratuity is more commonly known as a tip.
What is the Formula for calculating pension equivalent of gratuity?
pension equivalent gratuity
What is another word for tip?
Another word for tip is gratuity.
What is journal entry for gratuity payment?
[Debit] Gratuity [Credit] Cash / bank
What is another word for a waiter's tip?
Gratuity good look with the take a break comp Gratuity good look with the take a break comp
What is a sentence for gratuity?
Let's leave a generous gratuity for the waitress since the service was outstanding.
How can you use gratuity in a sentence?
Gratuity is a noun that means a monetary tip, a bonus, or gift. Example sentence:Each year I buy my housekeeper a gift as a gratuity for her excellent services.
