Hi All , Please help me .. Guide me how to calculate gratuity.. Regards
From India, Bangalore
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2From India, Bangalore
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Calculate Gratuity as under: Last Basic Drawn x 15 x No.of Completed years of Service. 26 Note:More than six months of Service is to taken as 1 year. Hope this will help you.
From India, Delhi
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From India, Delhi
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Mahal, good-afternoon Kindly refer to bare act ref to gratuity . With Regards Prof.Rajesh.W Pune- 411033
From India, Pune
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From India, Pune
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Dear Mahal,
The gratuity calculation depends upon your company's policy. Your company has already made a tie-up with LIC, and you have to calculate according to the guidelines of the policy.
The second method is according to The Payment of Gratuity Act 1972, i.e.,
Wage last drawn (Basic+DA)/26*15*number of years of service rendered by the employee.
The minimum service for the calculation of gratuity is 5 years, and it is not mandatory in cases of death.
In the above formula, 15 means 15 days. If the company is interested in giving beyond 15 days, that is their wish.
From India, Pune
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The gratuity calculation depends upon your company's policy. Your company has already made a tie-up with LIC, and you have to calculate according to the guidelines of the policy.
The second method is according to The Payment of Gratuity Act 1972, i.e.,
Wage last drawn (Basic+DA)/26*15*number of years of service rendered by the employee.
The minimum service for the calculation of gratuity is 5 years, and it is not mandatory in cases of death.
In the above formula, 15 means 15 days. If the company is interested in giving beyond 15 days, that is their wish.
From India, Pune
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Hello,
Gratuity Payable = 15 days wages x No. of completed years of services (Part of a year in excess of 6 months in a year).
15 days wages are calculated as = monthly wages last drawn / 26 X 15.
I hope this will help.
Ashish Gaur
From India, Dehra Dun
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Gratuity Payable = 15 days wages x No. of completed years of services (Part of a year in excess of 6 months in a year).
15 days wages are calculated as = monthly wages last drawn / 26 X 15.
I hope this will help.
Ashish Gaur
From India, Dehra Dun
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Gratuity calculation.doc
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