To be eligible for gratuity, the first condition is that the employee should have completed a minimum of 5 years of continuous service; as per the Payment of Gratuity Act.
The calculation is as follows: Basic plus DA for the month divided by 26 multiplied by 15 and again multiplied by the number of years of service. The amount arrived at is the amount of Gratuity is Payable to the employee as per the Act.
Regards
The calculation is as follows: Basic plus DA for the month divided by 26 multiplied by 15 and again multiplied by the number of years of service. The amount arrived at is the amount of Gratuity is Payable to the employee as per the Act.
Regards