hi, can someone please tell me how to calculate gratuity under cover scheme and not covered scheme? thanks and regards alankrita
From India, Mumbai
From India, Mumbai
Dear Alankrita,
Formula for calculation of gratuity.
1. basic/26 x 15 days x number of years of service
OR
2. BASIC + DA (Last Pay drawn) X 15 /26 X No. OF YEARS
In case of piece rate wages, daily wages shall be computed on the average of total wages received by the employee for a period of three months immediately preceding the termination of his employment. OT shall not be considered.
For Example
Suppose i hv completed 6year in same company my last basic+DA is 15000
then calculation is
15000*15days/26*6year
=Rs.51923/-
From India, Mumbai
45Formula for calculation of gratuity.
1. basic/26 x 15 days x number of years of service
OR
2. BASIC + DA (Last Pay drawn) X 15 /26 X No. OF YEARS
In case of piece rate wages, daily wages shall be computed on the average of total wages received by the employee for a period of three months immediately preceding the termination of his employment. OT shall not be considered.
For Example
Suppose i hv completed 6year in same company my last basic+DA is 15000
then calculation is
15000*15days/26*6year
=Rs.51923/-
From India, Mumbai
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