Can any body help me out in calculation of gratuity...means the process of calculation of gratuity...Its very urgent.... Regards Satyabrata Sarkar +91-9740833897
From India, Calcutta
20From India, Calcutta
dear Sarkar, both questing u can writte in one thread ok gratuity is applicable to those employee whose completed 5 year of his services in same organisation, calculation is basic/26*15*no of years.
From India, Delhi
From India, Delhi
Dear Sarkar,
For Gratuity calculation, the employee has to serve the organization for continuously for atleast for 5 years.
The formula will be Monthly Basic+D.A. x 15 days/26days X No. of years of service (Continous). Any 6 months above service can be considered as 1 year service.
Ex : 5 years + 7 months can be considered as 6 years service.
Bai,
P.Sathish Kumar
From India, Jaipur
For Gratuity calculation, the employee has to serve the organization for continuously for atleast for 5 years.
The formula will be Monthly Basic+D.A. x 15 days/26days X No. of years of service (Continous). Any 6 months above service can be considered as 1 year service.
Ex : 5 years + 7 months can be considered as 6 years service.
Bai,
P.Sathish Kumar
From India, Jaipur
Is it Basic+DA or only basic salary?
becasue earlier it was only basic salary *15 day*No of yrs servive (basic of last salary drawn-earlier it was average of 10 months basic salary).
Is there any change in the formula and if so from when?
in PF basic+da is considered
Could anybody clarify this please?
Best regards,
Shirish
From India, Mumbai
becasue earlier it was only basic salary *15 day*No of yrs servive (basic of last salary drawn-earlier it was average of 10 months basic salary).
Is there any change in the formula and if so from when?
in PF basic+da is considered
Could anybody clarify this please?
Best regards,
Shirish
From India, Mumbai
Hi, Reply of your questions are clearly available in Payment of Gratuity Act. Kindly go through that.
From India
From India
Dear Mr. Shirish,
The Gratuity is calculated by taking Basic Salary and DA both into account and not only Basic Salary. The formula to calculate Gratuity is: -
{(Last Drawn Basic Salary plus DA) x 15 days x No. of Years of Service}/26 as it is already informed above correctly by other members.
Regards
Gupta
From India, Mumbai
The Gratuity is calculated by taking Basic Salary and DA both into account and not only Basic Salary. The formula to calculate Gratuity is: -
{(Last Drawn Basic Salary plus DA) x 15 days x No. of Years of Service}/26 as it is already informed above correctly by other members.
Regards
Gupta
From India, Mumbai
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Gratuity calculation.doc
Gratuity Calculation tool.xls