Thank u very much for the guidance. Reg. the formula - 15 days salary X No. of years of employment.... Salary is Average OR Last drawn ? Please.....
From India, Pune
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2From India, Pune
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The salary should be the last basic. Please note the complete formula:
Last Basic
_____________ X 15 X No. of years
26
For example, if the service is 6 years and the last basic is 10,000/-:
Gratuity =
10000
_____________ X 15 X 6
26
= 34615/-
From India, Delhi
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Last Basic
_____________ X 15 X No. of years
26
For example, if the service is 6 years and the last basic is 10,000/-:
Gratuity =
10000
_____________ X 15 X 6
26
= 34615/-
From India, Delhi
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For your guidance, the Gratuity Act extracts are attached, which should be noted for clarity.
If an employer follows a better Gratuity Scheme compared to the Payment of Gratuity Act, there is no bar to paying gratuity that is more beneficial to the employees.
From India, Bangalore
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If an employer follows a better Gratuity Scheme compared to the Payment of Gratuity Act, there is no bar to paying gratuity that is more beneficial to the employees.
From India, Bangalore
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Payment of Gratuity Act, 1972 & The Rules.ppt
THE PAYMENT OF GRATUITY ACT 1972.doc