Hello, I want to know About the gratuity calculation. Please suggest me
From India, Ahmedabad
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From India, Ahmedabad
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Gratuity is calculated using the formula = (Basic + DA)/26 x 15 x number of years of service completed by the employee.
From India, Mumbai
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1593From India, Mumbai
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Hi,
Gratuity formula: Last drawn salary comprising of basic pay and DA / 26 X 15 X total number of completed (continuous) years of service rendered by an employee. Any length of service rendered for six months and above at the last year of service shall be considered and reckoned as one year for calculation of gratuity.
In seasonal factories, the formula of gratuity calculation differs as below in so far as the employees who are engaged during operational season, which may vary from 4 to 7 months in a year like a sugar factory, etc. Last drawn salary comprising of basic pay and DA / 26 X 7 X total number of completed years of service rendered by the seasonal employee.
P. Senthilkumar
98840099193
From India, Chennai
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Gratuity formula: Last drawn salary comprising of basic pay and DA / 26 X 15 X total number of completed (continuous) years of service rendered by an employee. Any length of service rendered for six months and above at the last year of service shall be considered and reckoned as one year for calculation of gratuity.
In seasonal factories, the formula of gratuity calculation differs as below in so far as the employees who are engaged during operational season, which may vary from 4 to 7 months in a year like a sugar factory, etc. Last drawn salary comprising of basic pay and DA / 26 X 7 X total number of completed years of service rendered by the seasonal employee.
P. Senthilkumar
98840099193
From India, Chennai
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Gratuity calculation.doc
Gratuity Calculation tool.xls