Dear Mr. Sunidhan,
Gratuity:
Requirement: shall have completed 5 years of service.
( Madras High Court said that 4 completed years of service and in the 5th year if the employee completes 240 days of service (as per Factories Act.), he is eligible for gratuity.
Calculation:
(*BASIC + DA / 26) X 15 X **NO. OF COMPLETED YEARS OF SERVICE
* BASIC +DA : As shown in pay bill (Basic shown for PF will be basic for gratuity also)
**COMPLETED YEAR OF SERVICE: Date of leaving - Date of joining.
(Fraction of a year: less than six (6) months shall be limited to the completed years i.e., 26 years 4 months = 26 years / more than six months, it can be treated as one more year i.e, 26 years 8 months = 27 years)
I am afraid that the above calculation may be wrong.
Regards:
Yagniah K