Re: Gratuity - Salary Formula - CiteHR
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Financial Accounting
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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.....
The salary should be Last Basic.
Pls note the complete formula = Last Basic
__________ X 15 X No. of years
For Example, Service 6 years, Last Basic 10,000/-
Gratuity = 10000
__________ X 15 X 6
= 34615/-

For your guidance Gratuity Act extracts is attached which may be noted for clarity.
If an employer follows a better Gratuity Scheme compared to the Payment of Gratuity Act there is no bar for paying gratuity which is more beneficial to the employees.

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