What is basic formulae for the calculation of Gratuity in india ? What are the conditions for Gratuity ? Gratuity falls in which expenditure ?
From India, Hyderabad
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From India, Hyderabad
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Gratuity = (last drawn gross salary/26 working days) * 15 days * no of years of service. 4 years 6 months is the minimum period of service required for gratuity eligibility
From India, Hyderabad
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5From India, Hyderabad
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sir, BUt as per the calculation gratuity is calculated as {(Basic+DA)*15*No of Yrs of service}/26 Kindly correct me if I am wrong
From India, Hyderabad
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From India, Hyderabad
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Dear Sriram Ji, where i have the knowledge minimum period / eligibility period is 04 years and 08 months...... and the calculation is : Basic x 15 days for a year x years of service / 26 Regards
From India, Delhi
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From India, Delhi
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In some companies, 4.6 years are also considered an eligible period for gratuity, while some companies keep the eligibility period of 4 years plus 240 days of the 5th year (which is around 8 months). A few companies maintain the eligibility as 5 years. Kindly confirm with your HR Department regarding the policy they have in place for Gratuity.
From India, Mumbai
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From India, Mumbai
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The simple and most used formula for gratuity is as: Basic*4.81%*no of month (here it is not less then 60 month) which is equal to 5 years. Nobal kishor
From India, Shimla
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From India, Shimla
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Gratuity = Last Drawn Salary × 15/26 × No. of Years of Service
Notes:
- The ratio 15/26 represents 15 days out of 26 working days in a month.
- Last drawn salary = Basic Salary + Dearness Allowance.
- Years of Service are rounded down to the nearest full year. For example, if the employee has a total service of 20 years, 10 months, and 25 days, only 20 years will be factored into the calculation.
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From India, Kolkata
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Notes:
- The ratio 15/26 represents 15 days out of 26 working days in a month.
- Last drawn salary = Basic Salary + Dearness Allowance.
- Years of Service are rounded down to the nearest full year. For example, if the employee has a total service of 20 years, 10 months, and 25 days, only 20 years will be factored into the calculation.
Regards
From India, Kolkata
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The formula for calculating gratuity in India is [{(DA + Basic Pay) / 26} * 15 * Number of Years of Service]. In this formula, 26 represents the number of working days in a month. For more information and assistance with gratuity calculation, you can refer to https://www.easycalculation.com/fina...tion-india.php.
Thank you.
From India, Coimbatore
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Thank you.
From India, Coimbatore
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Gratuity calculation.doc
Gratuity Calculation tool.xls