I need help from you. One of our staff members passed away due to a severe brain attack on 01/05/14 at the age of 33. He had joined us on 01/10/2008. Could you please advise me on how to calculate the gratuity amount? His basic salary was Rs. 3500 per month.
I am eagerly awaiting your reply.
Regards, SSP
From India, Pune
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I am eagerly awaiting your reply.
Regards, SSP
From India, Pune
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Dear Sachin, Formula to calculate Gratuity is salary x service x 15/26. In this case it is 3500x6x15/26 = 12115/- Abbas.P.S
From India, Bangalore
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530From India, Bangalore
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Mr.Abbas, Formula is correct. But as per the payment of Gratuity act length of service will be 6.7years. i.e.3500/26*15*7=14,135/-
From India
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From India
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The date of service shown in the above case is from 01.10.2008 to 01.05.2014, which amounts to 5 years, 7 months, and 1 day. Consequently, I have rounded the figure to 6 years and calculated it as 3500x6x15/26 = 12115/-. I am unsure where you obtained the service length as 6.7 years from?
Regards,
Abbas.P.S
From India, Bangalore
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Regards,
Abbas.P.S
From India, Bangalore
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Payment of Gratuity Act, 1972 & The Rules.ppt
Gratuity calculation.doc