Confused About Gratuity Calculation at TCS After 5 Years? Let's Discuss!

Hello,

I have 5 years of experience in TCS, currently in the ITA grade. I have heard from colleagues that they received 5 lakh INR when they quit TCS after 5 years.

My doubt pertains to the Gratuity formula: (Basic + DA) * 15/26 * 5, as far as I know. Upon my calculations, it amounts to 60000 [(15000 + 6000) * 15/26 * 5]. Additionally, I have around 2 lakhs in PF currently, bringing the total to 2.5 to 3 lakhs.

I am wondering if the 5 lakh amount is due to a different Gratuity calculation formula.

Thank you.

Clarification on Gratuity Calculation

All companies are following the same formula as per the Gratuity Act. I think you are misguided.

The gratuity calculation cannot change. However, apart from that, check if your colleagues, whom you are referring to, have been paid "Performance-Based Pay" or any other company reward program upon completion of 5 years. Or are they referring to claims on other statutory deductions, such as PF, etc.

Regards.