Hello,
I have 5 years exp in TCS, in ITA grade now. I have heard from colleagues that they have got 5 lakh INR when they quit from TCS after 5 years.
My doubt is about Gratuity formula (Basic+DA) *15/26*5 the one I know.
When I calculate it is coming to 60000 [(15000+6000)*15/26*5]
Plus I have some 2 lakhs in PF now. Total is 2.5 to 3 lakhs.
Is this 5 lakhs amount due to a different Gratuity Amount calculation formula?
I have 5 years exp in TCS, in ITA grade now. I have heard from colleagues that they have got 5 lakh INR when they quit from TCS after 5 years.
My doubt is about Gratuity formula (Basic+DA) *15/26*5 the one I know.
When I calculate it is coming to 60000 [(15000+6000)*15/26*5]
Plus I have some 2 lakhs in PF now. Total is 2.5 to 3 lakhs.
Is this 5 lakhs amount due to a different Gratuity Amount calculation formula?
604
The Gratuity calculation cannot change. But that apart, check if your colleagues, whom you are referring to, have been paid "Performance Based Pay" or any other company reward program on completion of 5years. OR are they referring to claim on other statutory deductions eg. PF etc............rgrds
From India, Mumbai
From India, Mumbai
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FORM-F-NOMINATI ON OF GRATUITY.pdf
Gratuity Form I.doc