Hello,
I have 5 years of experience in TCS, currently in the ITA grade. I have heard from colleagues that they received 5 lakh INR when they quit TCS after 5 years.
My doubt pertains to the Gratuity formula: (Basic + DA) * 15/26 * 5, as far as I know. Upon my calculations, it amounts to 60000 [(15000 + 6000) * 15/26 * 5]. Additionally, I have around 2 lakhs in PF currently, bringing the total to 2.5 to 3 lakhs.
I am wondering if the 5 lakh amount is due to a different Gratuity calculation formula.
Thank you.
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I have 5 years of experience in TCS, currently in the ITA grade. I have heard from colleagues that they received 5 lakh INR when they quit TCS after 5 years.
My doubt pertains to the Gratuity formula: (Basic + DA) * 15/26 * 5, as far as I know. Upon my calculations, it amounts to 60000 [(15000 + 6000) * 15/26 * 5]. Additionally, I have around 2 lakhs in PF currently, bringing the total to 2.5 to 3 lakhs.
I am wondering if the 5 lakh amount is due to a different Gratuity calculation formula.
Thank you.
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all the companies are following the same formula as per gratuity act. I think you are misguided. pon
From India, Lucknow
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616From India, Lucknow
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The gratuity calculation cannot change. However, apart from that, check if your colleagues, whom you are referring to, have been paid "Performance-Based Pay" or any other company reward program upon completion of 5 years. Or are they referring to claims on other statutory deductions, such as PF, etc.
Regards.
From India, Mumbai
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Regards.
From India, Mumbai
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Gratuity calculation.doc
Madras HC judg regarding gratuity is applicable if workmen is working 4 years 240 days..pdf