Collins Chinese Dictionary Plus (3rd edition), 2011:
爷(爺)
 yé 名
 1
 (=祖父)  (paternal) grandfather
2
 (方: 父亲) dad
3
 (=长辈)  uncle
4
 (旧: 显贵) master
5 (指神、佛) god
爷(爺)爷(爺)  yéye 名
 
            1
 (口: 祖父) (paternal) granddad
2
 (=祖父的同辈人) 
- 李爷(爺)爷(爺)常来(來)我家下棋。 Lǐ yéye cháng lái wǒ jiā xià qí. Old Mr Li often comes to my house to play chess.