What is basic formulae for the calculation of Gratuity in india ? What are the conditions for Gratuity ? Gratuity falls in which expenditure ?
From India, Hyderabad
From India, Hyderabad
Gratuity = (last drawn gross salary/26 working days) * 15 days * no of years of service. 4 years 6 months is the minimum period of service required for gratuity eligibility
From India, Hyderabad
5From India, Hyderabad
You may also refer my following article for comprehensive details about Gratuity and Payment of Gratuity Act in a nutshell
Question and answer about gratuity- for employee as well as employer
From India, Mumbai
Question and answer about gratuity- for employee as well as employer
From India, Mumbai
sir, BUt as per the calculation gratuity is calculated as {(Basic+DA)*15*No of Yrs of service}/26 Kindly correct me if I am wrong
From India, Hyderabad
From India, Hyderabad
Dear Sriram Ji, where i have the knowledge minimum period / eligibility period is 04 years and 08 months...... and the calculation is : Basic x 15 days for a year x years of service / 26 Regards
From India, Delhi
From India, Delhi
Dear All, I am working in a private co in Mumbai and want to know that for 30 employee digital signature is mandatory or not . Regards Rohit
From India, Mumbai
From India, Mumbai
Hi,
In some companies 4.6 years are also considered as eligible period for gratuity while some companies keep the eligibility period of 4 yrs + 240 days of 5th year (which is around 8 months) while few keep the eligibility as 5 yrs. Kindly confirm it with your HR Dept regarding what policy they have kept for Gratuity.
From India, Mumbai
In some companies 4.6 years are also considered as eligible period for gratuity while some companies keep the eligibility period of 4 yrs + 240 days of 5th year (which is around 8 months) while few keep the eligibility as 5 yrs. Kindly confirm it with your HR Dept regarding what policy they have kept for Gratuity.
From India, Mumbai
The simple and most used formula for gratuity is as: Basic*4.81%*no of month (here it is not less then 60 month) which is equal to 5 years. Nobal kishor
From India, Shimla
From India, Shimla
Hi Varun
Gratuity = Last Drawn Salary × 15/26 × No. of Years of Service
Notes:
- The ratio 15/26 represents 15 days out of 26 working days in a month
- Last drawn salary = Basic Salary + Dearness Allowance
- Years of Service are rounded down to the nearest full year. For example, if the employee has a total service of 20 years, 10 months and 25 days, only 20 years will be factored into the calculation.
Regards
From India, Kolkata
Gratuity = Last Drawn Salary × 15/26 × No. of Years of Service
Notes:
- The ratio 15/26 represents 15 days out of 26 working days in a month
- Last drawn salary = Basic Salary + Dearness Allowance
- Years of Service are rounded down to the nearest full year. For example, if the employee has a total service of 20 years, 10 months and 25 days, only 20 years will be factored into the calculation.
Regards
From India, Kolkata
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23 facts one should know about Gratuity Act in India.pdf
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