What is the formula for the calculation of Gratuity?
Answers were Sorted based on User's Feedback
Answer / sunitha
(Basic+DA of the last drawn salary/26)* 15 * No of years of
service if he/she has crossed 4.6 years of continuos
service.
ie (Basic + DA/26*159) *No of years
Eg: Basic + DA =7000
Gratuity = (7000/26)*15 *No of Years of Service
= 269.23*15 * No of Years of Service
= 4038.46 * No of Years of Service
Is This Answer Correct ? | 5 Yes | 3 No |
Answer / naveed abdullah
the calculation should be:
If PF salary is 10,000 and number of years served in the company is 15 then,
10000 * 15/26 * 15
and as per rule, if he has worked below 5 years, he is not eligible for gratuity.
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / dr motha prasada rao
It is very simple....
Last Month drawn Basic pay + DA X 0.5770 X Number of
years Completed ( > 6 mopnths service will be treated as
one year) Maximum Cap Rs.one million.
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / mritunjay kumar
Gratuity Calculation In India = [ (Basic Pay + D.A) x 15
days x No. of years of service ] / 26
Where,
D.A = Dearness Allowance.
Gratuity Eligibility :
1. Any person employed on wages/salary.
2. At the time of retirement or resignation or on
superannuation, an employee should have rendered continuous
service of not less than five years.
3. Payable without completion of five years only when
death and disablement.
This gratuity calculator is applicable only for indian
employee.
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / k.g.reddy
lAST DRAWN SALARY(BASIC+DA)*NO OF YEARS OF SERVICE SUBJECT
TO COMPLETION OF % YEARS PERIOD OF UN INTERRUPTED SERVICE.
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / jeevarathinam a
The employee who have more than 5 years working in the
organisation he is the eligible for the gratuity.The maximum
gratuity is Rs. 3,50,000.The last drawn 15 days salary in
every year.
BASIC+DA*15/26*NO OF SERICE
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / abhishek karanwal
basic/26 x 15 days x number of years of service
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mithun kumar
Basic + D.A.*15/26*No. of years (after 5 year Service)
Is This Answer Correct ? | 0 Yes | 0 No |
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