Regarding Gratuity - Gratuity Calculation

Dear Riyaz
Pls note that Grauduity amt. always caculated on Last Drawn BASiC & D.A
Pls note the formula for same
=Basic+DA/26*15*No. of years in Service
in your case your graduity will be
8500/26*15*5= 24519
thanks

Last basic salary * 15/26 * 5
Last basic salary/26*15*5
Which is the correct formula to calculate gratuity, pls let me know , Some people said first one , some second
regards
riyaz.

Saravanan,
I did not understand the formula of Last Basic*4.81%*No of years of service.
Pl present an example of calculation with the above formula for an easy understanding.

Hi,
W x Y x 15/26 where W = Last Wage drawn i.e., basic + DA
Y = number of completed years of continuous service (six months or less to be ignored and more than six months to be counted as full year.
15 = 15 days salary
26 = No. of working days in a month.
So In your case the gratuity amount would be-
8500 x 5 x 15/26 = 24519.23 INR only.
Regds
Dharmendra
HR Adroit

your current basic salary = 8500
No of years of service with the organisation = 5 yr
Gratuity Amount = 8500/26*15*5
= 24519/-

Last Drawn salary (Basic) 8500 / 26 days
your per day salary 326.9230769 x 15 days
15days salary per year 4903.846154 x 5 no of years complited in the services
your Gratuity 24519.23077

Last Drawn salary (Basic) 8500 / 26 days
your per day salary 326.92 x 15 days
15days salary per year 4903.84 x 5 no of yrs complited
your Gratuity Amt. 24519.23
Thanks
Bharat Sakpale
9763335696

Hi,
thanks for sharing the valuable info regarding gratuity.
am very new to this, so, kindly explain me why the 15days salary to be multiplied with the formula, what I mean to ask is, do the no of days varies ...........?

hi
current basic is 8500/-
so your gratuity is calculated to your current basic.
formula for gratuity = Basic/26*15* number of years
8500/26*15*5=24519

Hi Seniors,
Is it suitable for any private concern! Pls tell me, B.coz i am working as a accounts manager in a private concern.
Regards,
Venkat