1.

An Employee Covered by the "Payment of Gratuity Act":

The least of the following is exempt from gratuity:

1. 15 days' salary based on salary last drawn for every completed year of service
or part thereof in excess of 6 months;

2. Maximum of Rs.3,50,000;

3. Gratuity actually received.

Note: Salary of 15 days is calculated by dividing the salary last drawn by 26

2. In The Case Of any Other Employee:

The least of the following is exempt from gratuity:

1. 15 days' salary based on salary last drawn for every completed year of service;

2. Maximum of Rs.3,50,000;

3. Gratuity actually received.

Note 1: While calculating completed years of service, any fractionof the year will be ignored.

Note 2: Salary is calculated on the basis of the average last 10 months salary preceding
the month of payment.

Digitally signed by Cyrus Paymaster

Cyrus Paymaster DN: cn=Cyrus Paymaster, o=Paymaster

services, ou, email=callcyrus@gmail.com, c=IN
Date: 2009.11.21 19:11:04 +05'30'