I work in an ITES company that has 22 working days, with a 5-day-a-week working schedule. In that case, what should be the formula applied for calculating the gratuity? Please reply ASAP so that I can send this to the HR department. Currently, they are calculating it using Basic*15/26*No. of years with the company.
Regards,
From United Kingdom, Runcorn
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1Regards,
From United Kingdom, Runcorn
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Dear All, Accurate Formula Of Gratuity calculation. Current Basic Salary/26*15*no of years service. Eligible for get his gratuity after 5 years of service for Employer Regards, Varun Sharma
From India, New Delhi
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From India, New Delhi
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I fully agree with Mr. T. Sivasankaran and Mr. Varun Sharma. If any company works a 5-day week and a 6-day week, the gratuity calculation is based on the current basic salary divided by 26, multiplied by 15, and then multiplied by the number of years of service, subject to a minimum of 5 years of continuous service.
Regards,
Krishna Prasad H N
Head of HR
From India, Bangalore
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Regards,
Krishna Prasad H N
Head of HR
From India, Bangalore
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Gratuity Calculation Formula
Formula: Gross (Basic + DA) / 26 * 15 * No. of years of service. Gross includes the last Basic and DA.
4 years and 240 days completed cases are also eligible for gratuity as per law.
Regards, Hiten Dalal Officer HR and Personnel.
From India, Mumbai
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Formula: Gross (Basic + DA) / 26 * 15 * No. of years of service. Gross includes the last Basic and DA.
4 years and 240 days completed cases are also eligible for gratuity as per law.
Regards, Hiten Dalal Officer HR and Personnel.
From India, Mumbai
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In our company a worker die after complete 1 year service my question is that he is elefgible for gratuity and pls. Give formula to calculate of his gratuity
From India, Paonta Sahib
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From India, Paonta Sahib
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Dear friend If a worker dies after complecting one year of service you have to give the Gratuity with the same formula taking his service up to 58 years Regards Alphonse
From India, Madras
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From India, Madras
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Yes, he is eligible for gratuity. The condition of 5 years is not applicable in the following cases:
1) Death of the employee.
2) Permanent disablement due to an accident or any disease.
Thanks & Regards,
Hiten Dalal
From India, Mumbai
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1) Death of the employee.
2) Permanent disablement due to an accident or any disease.
Thanks & Regards,
Hiten Dalal
From India, Mumbai
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Gratuity calculation.doc
Gratuity Calculation tool.xls