How To Calculate Graduity Amount

Hi
If some one employee completed his service more than 5 years in a same company. Is he eligible for graduity and on which basis calculate the amount of graduity. Pls clarify any one with a calculation.
Regards
Rakesh

Also you can go to this thread https://www.citehr.com/219335-about-gratuity.html where numbers of people have discussed on the same subject and im sure you'll get more details on that

Hi Rakesh,
If Any person Completed the 5 years of service. He is eligible for Graduity,
In that , If ex: 5 years 3 months means will take 5 years , if 5 years More then 6 months means will added to the next year.
Graduity Calculation = Basic Salary x15xNo.of years
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standard w.days
As per act.

Hi Rakesh,
Formula for calculating Gratuity: ((Last drawn basic / 26)*15)*Number of Years Service
Note: For Gratuity eligibility, an employee should serve atleast 5 yrs.