Dear All HR professionals,
Greetings
NEED TO CLARIFY ONE DOUBT ABOUT GRATUITY CALCULATION
EVERY YEAR I AM GETTING AN INCREMENT AND MY BASIC IS CHANGED FROM THE YEAR I JOINED TO THE 5TH YEAR .
NOW WHETHER GRATUITY WILL BE CALCULATED SEPERATELY FOR EACH YEAR AS PER THE BASIC AND CONSOLIDATE THE FIGURE OR
DIRECTLY THE 5TH YEAR BASIC WILL BE APPLICABLE FOR BELOW CALCULATION
Gratuity = (Last drawn salary / 26) x 15 x Number of years of service
IS THEIR ANY OFFICIAL ( GOVERNMENT ) DOCUMENT AVAILABLE CLARIFYING THIS CALCULATION? IF SO PLEASE PROVIDE THE SAME TO THE FORUM.
please reply
Thanks & Regards
James Mathew
Greetings
NEED TO CLARIFY ONE DOUBT ABOUT GRATUITY CALCULATION
EVERY YEAR I AM GETTING AN INCREMENT AND MY BASIC IS CHANGED FROM THE YEAR I JOINED TO THE 5TH YEAR .
NOW WHETHER GRATUITY WILL BE CALCULATED SEPERATELY FOR EACH YEAR AS PER THE BASIC AND CONSOLIDATE THE FIGURE OR
DIRECTLY THE 5TH YEAR BASIC WILL BE APPLICABLE FOR BELOW CALCULATION
Gratuity = (Last drawn salary / 26) x 15 x Number of years of service
IS THEIR ANY OFFICIAL ( GOVERNMENT ) DOCUMENT AVAILABLE CLARIFYING THIS CALCULATION? IF SO PLEASE PROVIDE THE SAME TO THE FORUM.
please reply
Thanks & Regards
James Mathew