Hi, will you plz tell me how to calculate gratuity and how to calculate PF. varsha
From India, Mumbai
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From India, Mumbai
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Hi Varsha, Gratuity is calculated as 4.8 % of basic. It is paid after an uninterupted service of 5yrs of service on his retirement/resignation.
From India, Mumbai
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From India, Mumbai
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Dear Varsha,
Nowadays, the discussion on gratuity is ongoing. I would like to advise you to become a member of citelegal.com and enter the employee and labor-related section, specifically the gratuity subsection. There are numerous postings on gratuity itself, and I hope you will find clear-cut clarification.
M. Srinivas
Asst Manager - HR
Ramky Group of Companies
Hyderabad
9866005600
srisu2412@rediffmail.com
From India, Hyderabad
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2Nowadays, the discussion on gratuity is ongoing. I would like to advise you to become a member of citelegal.com and enter the employee and labor-related section, specifically the gratuity subsection. There are numerous postings on gratuity itself, and I hope you will find clear-cut clarification.
M. Srinivas
Asst Manager - HR
Ramky Group of Companies
Hyderabad
9866005600
srisu2412@rediffmail.com
From India, Hyderabad
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Dear Varsha,
Gratuity Calculation: Last drawn wages (Basic+DA) multiplied by Number of years in service multiplied by 15 Days' wages or salary divided by 26 days. Alternatively, (Basic+DA) divided by 26 days multiplied by Number of years in service multiplied by 15 days' wages/salary.
P F: Basic + DA multiplied by 12%
- Employees' share: 12%
- Employer's share: 12% - Out of this, 8.33% goes to Pension - Remaining 3.67% goes to PF
- Total PF Contribution for employees = 15.67%
:-P MANOKAVIN
From India, Coimbatore
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Gratuity Calculation: Last drawn wages (Basic+DA) multiplied by Number of years in service multiplied by 15 Days' wages or salary divided by 26 days. Alternatively, (Basic+DA) divided by 26 days multiplied by Number of years in service multiplied by 15 days' wages/salary.
P F: Basic + DA multiplied by 12%
- Employees' share: 12%
- Employer's share: 12% - Out of this, 8.33% goes to Pension - Remaining 3.67% goes to PF
- Total PF Contribution for employees = 15.67%
:-P MANOKAVIN
From India, Coimbatore
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Gratuity calculation.doc
PF CHALLAN & CALCULATION SHEET.xls