Dear All, I want to confirm what is the role of 15 days and also 26 in below mention formula. Please clear my confusion ASAP. Gratuity Calculations: / 26.
From India, New Delhi
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2From India, New Delhi
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to arrive at a yearly gratuity amount you need to multiply the monthly salary with 15/26 as stipulated in The payment of Gratuity act.
From India, New Delhi
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From India, New Delhi
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Dear KUMARACME, Thanks for your reply but My question is what is the main role of 15 days & 26 in above formula, pls clear my confusion.
From India, New Delhi
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From India, New Delhi
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Dear Gourav, as above said, we have to pay the Gratuity as per the Gratuity act said, we need to multiply the monthly salary as 15 days on 26 days. into the no of services.
From India, Bangalore
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From India, Bangalore
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Dear Mr. Gaurav,
Normally, there are 26 working days in a month, excluding Sundays. Sundays are not considered when calculating the amount of Gratuity in the standard formula mentioned in the Payment of Gratuity Act.
Regards,
Ravinder Bhardwaj
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Normally, there are 26 working days in a month, excluding Sundays. Sundays are not considered when calculating the amount of Gratuity in the standard formula mentioned in the Payment of Gratuity Act.
Regards,
Ravinder Bhardwaj
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Dear Gaurav, The formula is 26/15*No. of year of services. Thanks, Vineet
From India, Yavatmal
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From India, Yavatmal
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Hi Gaurav,
26 is the total number of working days in the organization, and 15 is the number of days you have worked out of those 26 days. Hope it's clear now! You can refer to the link for the Gratuity Payment Act: https://www.stacowiki.in/en/acts/st-...tuity-act1972/
From India, Bengaluru
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26 is the total number of working days in the organization, and 15 is the number of days you have worked out of those 26 days. Hope it's clear now! You can refer to the link for the Gratuity Payment Act: https://www.stacowiki.in/en/acts/st-...tuity-act1972/
From India, Bengaluru
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