Gratuity payable should not exceed Rs. _______.

1, 00, 000

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10, 00, 000

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3, 50, 000

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3, 00, 000

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Solution

The correct option is B $10, 00, 000$
Gratuity payable should not exceed Rs.1000000.Every employee irrespective of his wages is entitled to receive gratuity after he/she has rendered continuous service for 5 years or more.Every employer of a shop or establishment, employing 10 or more persons comes within the purview of the Payment of Gratuity Act, 1972.Gratuity is one of the retirement benefits received by the employees when they leave a company.

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Similar questions

Q. Under the Payment of Gratuity Act, 1972 the maximum gratuity payable is _____.

Q. Goodwill of the firm is valued at Rs.

5, 00, 000

2

years purchase of average profit. Determine the missing value.
Total Profits

= R s . 2, 50, 000 + . . . . . + R s . 3, 00, 000 - R s . 1, 00, 000 + R s . 3, 50, 000 = R s . . . .

Average Profit

= \frac{T o t a l P r o f i t s}{N u m b e r O f Y e a r s} = \frac{R s .}{5} =

Rs.
Goodwill

= R s . . . . . \times 2 = R s . 5, 00, 000

Prepare the balance sheet of Jyoti Ltd. as at March 31, 2017 from the following information:

Building Rs. 10,00,000; Investments in the shares of Metro Tyers Rs. 3,00,000; Stores & Spares Rs. 1,00,000; Discount on issue of 10% debentures Rs. 10,000; Statement of Profit and Loss (Dr.) Rs. 90,000; 5,00,000 Equity Shares of Rs. 20 each fully paid-up; Capital Redemption Reserve Rs. 1,00,000; 10% Debentures Rs. 3,00,000; Unpaid dividends Rs. 90,000; Share options outstanding account Rs. 10,000.

From the following information, prepare Comparative Balance Sheets of X Ltd.:

$\begin{matrix} Particulars & 31.03.2017 & 31.03.2016 Rs. & Rs. Reserve and Surplus & 12, 00, 000 & 6, 00, 000 Share Capital & 10, 00, 000 & 10, 00, 000 Trade Payables & 12, 70, 000 & 9, 00, 000 Land and Buildings & 16, 00, 000 & 15, 00, 000 Plant and Machinery & 6, 30, 000 & 5,00,000 Goodwill & - & 1, 00, 000 Investments & 1, 20, 000 & 1, 00, 000 Current Assets & 15, 20, 000 & 8,00,000 Long term Borrowings & 4, 00, 000 & 5, 00, 000 \end{matrix}$

Q. According to the provisions of the 'Indian Companies Act, 2013' the limit of yearly remuneration payable to a managerial person of a company having the effective capital of Rs 25 crores, shall not exceed _____________.

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