I will be completing 5 years of service on April 20th and will be eligible for Gratuity. So, I request you to help me in understanding the calculation method as I am planning to resign in May after completing my 5 years of service. My Salary - Basic & DA = $20,000.00 per month, and the number of working days in my organization is 22 days.
Gratuity Calculation
So, as per the Gratuity Formula, my understanding is that I will be getting the below amount, i.e., Gratuity = $20,000 x 12 x 15 x 5 / 22 = $818,181.82.
Please help me understand if this calculation is correct. If I am wrong, kindly show me the correct calculation. Also, please advise me on when I can expect to receive the amount of my gratuity?
Thank you.
From India, Bangalore
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1Gratuity Calculation
So, as per the Gratuity Formula, my understanding is that I will be getting the below amount, i.e., Gratuity = $20,000 x 12 x 15 x 5 / 22 = $818,181.82.
Please help me understand if this calculation is correct. If I am wrong, kindly show me the correct calculation. Also, please advise me on when I can expect to receive the amount of my gratuity?
Thank you.
From India, Bangalore
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Gratuity Calculation Assistance
Dear Mr. Rahul,
As I understand it, your calculation of Gratuity is as follows:
Basic salary * 15/100 * Number of Years.
So, $20,000 * 15/100 * 5 = $15,000.00.
As per your question, you have completed your job for 5 years. If you complete 5.6 years or more, then calculate for 6 years.
If there are any problems, you can receive the gratuity amount.
Regards,
Ashish Shukla
[Phone Number Removed For Privacy Reasons]
From India, Vapi
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Dear Mr. Rahul,
As I understand it, your calculation of Gratuity is as follows:
Basic salary * 15/100 * Number of Years.
So, $20,000 * 15/100 * 5 = $15,000.00.
As per your question, you have completed your job for 5 years. If you complete 5.6 years or more, then calculate for 6 years.
If there are any problems, you can receive the gratuity amount.
Regards,
Ashish Shukla
[Phone Number Removed For Privacy Reasons]
From India, Vapi
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You will get Rs 57692/- as gratuity for 5 years. The calculation is 20000/26x15x5. Varghese Mathew
From India, Thiruvananthapuram
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From India, Thiruvananthapuram
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Hi all, You will get 57692.3076923 INR as gratuity for 5 years. Formula Used : Gratuity Calculation In India = / 26
From India, Noida
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From India, Noida
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I want to clear that 15 days in formula are common in all case or not as 26(which r working days) days??Please reply a proper answer...
From India
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From India
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Gratuity Calculation Formula
The formula for the calculation of gratuity, which is applicable upon completion of 5 years of service, is as follows: Basic + DA (Special Allowance) × 15/26 × Number of Years in Service.
In the present case, this works out as 20,000 × 15/26 × 5 = 57,692.31.
Regards,
Shekhar Mengaji
From India, Mumbai
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The formula for the calculation of gratuity, which is applicable upon completion of 5 years of service, is as follows: Basic + DA (Special Allowance) × 15/26 × Number of Years in Service.
In the present case, this works out as 20,000 × 15/26 × 5 = 57,692.31.
Regards,
Shekhar Mengaji
From India, Mumbai
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Gratuity calculation.doc
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