Gratuity Calculation= [ (Basic Pay + D.A) x 15 days x No. of years of service ] / 26
Approx amount will 1.25 lakhs
What about DA?
If Da was being paid Gratuity amount will be higher.
Sad to hear of brothers death
Pl contact the firm and meet HR officials.
Sad to hear abt brothers death.My deepest condolences to fmly.
Gratuity was Tax-free upto ₹10 Lakhs. That limit has been raised to ₹20 Lakhs
*How To Calculate Gratuity:* Amount of gratuity is directly proportional to the tenure of service, and also to the last drawn salary. The gratuity is given at the rate of 15 days of last drawn salary for each year of service. Salary that is considered for the calculation of gratuity is the last drawn salary that includes basic pay and dearness allowance. It is typically calculated according to this formula: Last drawn salary (basic salary plus dearness allowance) X number of completed years of service X 15/26. According to this formula, the time period of over six months or more is considered as one year. This means if you have completed five years and seven months of service, the number of years would be considered as six years for calculation of gratuity benefit. On the other hand, if the service period is five years and five months, for gratuity calculation will be considered as five years
Sad to hear sudden demise of your brother. May his soul rest in peace.
As regards to payment of Gratuity, the due amount on his last drawn Basic salary would be Rs.1,16,784/-. He may also get some death benefit provided his company is covered under LIC Group Gratuity Policy and had covered their employees for additional benefit on account of death during employment.
He may also get death benefit under Deposit Linked Insurance Scheme, if he was covered under the Employees' Provident Fund Scheme. The maximum amount he may get is Rs.4,04,850 + Rs.1,50,000/- = Rs.5,54,850 approx. The condition is he should have in continuing employment at the time of death.
The working is done based on data provided by you and is the maximum and depending upon his attendance also. Calculation may vary according to salary drawn by him.