Gratuity Calculations For 22 Working Days

Hello,
I work in an ITES company which has 22 working days, 5 days a week working.
In that case what sould be the formula that should be applied for calculating the gratuity.
Please reply ASAP so that I can send this to the HR department.
Currently they are calclating using Basic*15/26*No. of years woth company.
Regards,

Dear All,
Accurate Formula Of Gratuity calculation.
Current Basic Salary/26*15*no of years service.
Eligible for get his gratuity after 5 years of service for Employer
Regards,
Varun Sharma

DEAR AMG 23,
I fully agree with Mr.T Sivasankaran and Mr.Varun Sharma. If any company working 5 day weeks and 6 day's week, gratuity calculation is Current Basis Salary/26*15*no. of years service subject to minimum 5 years continues service.
Regards,
Krishna Prasad H N
Head- HR

Formula:
Gross(Basic + DA) / 26 *15* No. of years of Service
Gross includes last Basic and DA.
4 years and 240 days completed cases also eligible for Gratuity as per law.
Regards,
Hiten Dalal
Officer HR and Personnel.

In our company a worker die after complete 1 year service my question is that he is elefgible for gratuity and pls. Give formula to calculate of his gratuity

Dear friend
If a worker dies after complecting one year of service you have to give the Gratuity with the same formula taking his service up to 58 years
Regards
Alphonse

Dear Ajay,
Yes, he is eligible for gatuity.
Condition of 05 years not alllicable for following cases:
1) Death of employee.
2) Permanenent Disablement due to accident OR any Disease.
Thanks & Regards,
Hiten Dalal

Dear Sir/s,
Can we give the gratuity amount to any bank against any loans where the account holder is a defaulter with the bank and the bank is claiming the same?
Can anyone guide me on this please
P R PARAMESWARAN

Please note eligibility for 5 years in case of 5 days working shall be 4 years + 190 days not 240 days.
Regards.
Ulhas

Any amount payable to an employee barring PF can be given to Financial Institutions for outsatanding. This includes gratutity.
To effect this payment either of the following conditions should have been fulfilled
1. The employee must have given it in writing that any amount due to him can be given to the specific financial institution for outstanding loan amount.
2. Or the financial insititution must have obtained decree for recovery from the amount payable to the employee
We can not make any payment just because there is a claim from the Bank
T Sivasankaran