hi there, I Need formula for gratuity calculation pls. help me thanks, Lokesh
From United States, Fairfield
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From United States, Fairfield
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Hi Lokesh,
Gratuity Formula is
Last Basic Salary + DA earned / 26 * 15 * No of years worked
The conditions are
1) Minimum of 5 years of service
2) The above formula is for monthly salary employees
Gratuity amount above rupees 3.6 Lacs would be taxable.
Regards,
Amit Seth.
From India, Ahmadabad
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551Gratuity Formula is
Last Basic Salary + DA earned / 26 * 15 * No of years worked
The conditions are
1) Minimum of 5 years of service
2) The above formula is for monthly salary employees
Gratuity amount above rupees 3.6 Lacs would be taxable.
Regards,
Amit Seth.
From India, Ahmadabad
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Dear sir,
Pls. clarify gratuity payable to an employee on his death before completion of his 5 yrs service.( 1.5 -2.0 yrs. in service only.)
His salary was Rs. 5000.00 p.m
pls. calculate his gratuity amount for 2 yrs.
Rgds.
ARbindo
From India, Mumbai
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Pls. clarify gratuity payable to an employee on his death before completion of his 5 yrs service.( 1.5 -2.0 yrs. in service only.)
His salary was Rs. 5000.00 p.m
pls. calculate his gratuity amount for 2 yrs.
Rgds.
ARbindo
From India, Mumbai
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Hi, Since u have not clarified , whether the amount of Rs. 5000/- is basic or gross salary. The gratuity amount would be calculated , at formula which Amit has mentioned above. katyana
From India, Gurgaon
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From India, Gurgaon
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Hi lokesh,,,
Kindly click on the link to get the details
https://www.citehr.com/download-list.php?query=gratuity
Also find an attachment
From India, Coimbatore
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Kindly click on the link to get the details
https://www.citehr.com/download-list.php?query=gratuity
Also find an attachment
From India, Coimbatore
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Hi, I resigned from my services. I was working in the position of personal secretary to the Executive Director. I started my employment on 01/05/2001 and resigned on 31/05/2017, accumulating a total of 16 years of service.
My basic salary is Rs. 15,570/-, and DA is 375. Therefore, I calculated my gratuity as follows: 15,570 + 375 = 15,945 x 15 x 16 / 26 = 1,47,184 would be my gratuity amount. However, I received a cheque of Rs. 1,29,360/- only. When I approached my accounts department for clarification, they mentioned that they are giving and calculating it in the same manner.
My question is, should I request the formula that they used for the calculation? Are there different formulas to calculate gratuity other than the one I used? I would appreciate if someone could guide me as I need clarification.
From India, Kolkata
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My basic salary is Rs. 15,570/-, and DA is 375. Therefore, I calculated my gratuity as follows: 15,570 + 375 = 15,945 x 15 x 16 / 26 = 1,47,184 would be my gratuity amount. However, I received a cheque of Rs. 1,29,360/- only. When I approached my accounts department for clarification, they mentioned that they are giving and calculating it in the same manner.
My question is, should I request the formula that they used for the calculation? Are there different formulas to calculate gratuity other than the one I used? I would appreciate if someone could guide me as I need clarification.
From India, Kolkata
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SACHIN GRATUITY FORMULA SHEET.xlsx
FORM-F-NOMINATI ON OF GRATUITY.pdf