hi all, This is raju can some one tell me how to calculate graduity
From India, Hyderabad
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From India, Hyderabad
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Hi,
The formula for calculating Gratuity is: Last drawn salary X 15 X Number of completed years of service divided by 26. The output is the gratuity amount to be paid. If the completed years of service exceed 6 months, the amount needs to be rounded off to the next whole number. If the service period is less than 6 months, that period shall not be considered for the calculation.
Eligibility:
1. Any person employed on wages/salary.
2. At the time of retirement, resignation, or superannuation, an employee should have rendered continuous service of not less than five years.
3. In the case of death or disablement, gratuity is payable, even if the employee has not completed 5 years of service.
From United States, Bentonville
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The formula for calculating Gratuity is: Last drawn salary X 15 X Number of completed years of service divided by 26. The output is the gratuity amount to be paid. If the completed years of service exceed 6 months, the amount needs to be rounded off to the next whole number. If the service period is less than 6 months, that period shall not be considered for the calculation.
Eligibility:
1. Any person employed on wages/salary.
2. At the time of retirement, resignation, or superannuation, an employee should have rendered continuous service of not less than five years.
3. In the case of death or disablement, gratuity is payable, even if the employee has not completed 5 years of service.
From United States, Bentonville
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Gratuity-Contin uous Service-countin g broken period with same employer-Madras HC Judgment.docx