Help Need For GratuitY Calculation

Hi All ,
Please help me ..
Guide me how to calculate gratuity..
Regards

Calculate Gratuity as under:
Last Basic Drawn x 15 x No.of Completed years of Service.
26
Note:More than six months of Service is to taken as 1 year.
Hope this will help you.

Mahal,
good-afternoon
Kindly refer to bare act ref to gratuity .
With Regards
Prof.Rajesh.W
Pune- 411033

Dear Mahal,
The Gratuity calculation is depends upon your company's policy. Your company already made tie up with LIC you have to caluculate according to the guidelines of the policy.
The second one is according to The Payment of Gratuity act 1972. i.e.
Wage last drawn (Basic+DA)/26*15*no.of years of service rendered by employee.
The minimum service for caluculation of gratuity is 5 years and it is not mandatory in cases of death.
In above formula 15 means 15 days, if the company is interested to give beyond 15 days that is their wish.

Hello,
Gratuity Payable = 15 days wages x No. of completed years of services ( Part of a year in excess of 6 months in a year )
15 days wages is calculated as = monthly wages last drawn
------------------------------X15
26
I hope this will help
Ashish Gaur

Thanks for sharing such information
Regards,
Reema

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Hi Mahal,
Just go with simple formula
Basic + D.A * 15
---------------- * Years of service
26
Regards,
Rajesh

hii all
how to calculate gratuity for daily wage employees and seasonal employees ????
regards
beno