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
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20From India, Calcutta
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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
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From India, Delhi
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Dear Sarkar,
For Gratuity calculation, the employee has to serve the organization continuously for at least 5 years. The formula will be Monthly Basic + D.A. x 15 days / 26 days X No. of years of service (Continuous). Any service above 6 months can be considered as 1 year of service. For example, 5 years + 7 months can be considered as 6 years of service.
Bai, P. Sathish Kumar
From India, Jaipur
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For Gratuity calculation, the employee has to serve the organization continuously for at least 5 years. The formula will be Monthly Basic + D.A. x 15 days / 26 days X No. of years of service (Continuous). Any service above 6 months can be considered as 1 year of service. For example, 5 years + 7 months can be considered as 6 years of service.
Bai, P. Sathish Kumar
From India, Jaipur
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Is it Basic+DA or only basic salary? Because earlier it was only the basic salary multiplied by 15 days multiplied by the number of years in service (based on the last salary drawn - earlier it was the 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
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In PF, basic+DA is considered. Could anybody clarify this, please?
Best regards,
Shirish
From India, Mumbai
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Hi, Reply of your questions are clearly available in Payment of Gratuity Act. Kindly go through that.
From India
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From India
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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 has already been correctly informed above by other members.
Regards,
Gupta
From India, Mumbai
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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 has already been correctly informed above by other members.
Regards,
Gupta
From India, Mumbai
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Payment of Gratuity Act, 1972 & The Rules.ppt
THE PAYMENT OF GRATUITY ACT 1972.doc