Dear Aarti and other freshers,
We would appreciate if you could search the site or web for basic queries which have already been addressed. You can also use side bar to check the relevant topics discussed to gain better insight.
As for your query about Gratuity calculations,
It is 15 days' salary for every year of service rendered.
Please note that though a person is eligible to claim the gratuity amount only after he serves a minimum period of 5 years (except in case of death or disablement) the employer are supposed to credit the gratuity amount year on year in an account. Gratuity is a safe and compulsory due on employer to be given to employee. Gratuity cannot be withheld except in certain situations as prescribed by the Gratuity act.
Calculation is 15/26 * (Last drawn salary) * No. of years served.
Note that after 5 years of service is rendered, we can thereafter round the service tenure to nearest decimal by -
If the person serves for upto 6 months, the years is rounded to lower number (i.e. 5.5 years is rounded to 5 years)
If the person server more than 6 months, years is rounded to upper number (i.e. 5.7 years is rounded to 6 years)
You can read further on -
1)
https://www.citehr.com/445131-gratui...ice-years.html
2)
https://www.citehr.com/166761-gratui...ic-salary.html
3)
https://www.citehr.com/235334-confus...lculation.html
4)
https://www.citehr.com/330656-need-i...nd-amount.html
Hope this will help you.