Please let me know if fraction of a year is rounded of to nearest year for calcutating completed year for Gratuity in India? Eg: Incase of 4 years 11 months, will it be considered as 5 years
From India
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From India
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Dear Ashus,
For gratuity calculation, fractions up to 6 months will be rounded down, and any excess will be rounded up. However, for eligibility, one should have a minimum of 5 years of service. This rounding up is only for payment calculation.
Abbas
P.S.
From India, Bangalore
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530For gratuity calculation, fractions up to 6 months will be rounded down, and any excess will be rounded up. However, for eligibility, one should have a minimum of 5 years of service. This rounding up is only for payment calculation.
Abbas
P.S.
From India, Bangalore
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Less than 5 years service - Eligibility for payment of gratuity.pdf
Gratuity calculation.doc