Gratuity Eligibility and Calculation
If an employee has completed more than 5 years of service in the same company, is he eligible for gratuity, and on what basis is the amount of gratuity calculated? Please clarify this for anyone with a calculation.
Regards,
Rakesh
From India, Jammu
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If an employee has completed more than 5 years of service in the same company, is he eligible for gratuity, and on what basis is the amount of gratuity calculated? Please clarify this for anyone with a calculation.
Regards,
Rakesh
From India, Jammu
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Also, you can visit this thread https://www.citehr.com/219335-about-gratuity.html where numerous people have discussed the same subject. I'm sure you'll find more details there.
From India, Gurgaon
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671From India, Gurgaon
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If any person has completed 5 years of service, they are eligible for Gratuity. In this case, for example, if someone has worked for 5 years and 3 months, it will be considered as 5 years. However, if the individual has worked for 5 years and more than 6 months, the additional time will be added to the next year.
Gratuity Calculation
Gratuity Calculation = (Basic Salary x 15 x Number of years) / Standard working days
This calculation is as per the act.
Thank you.
From India, Coimbatore
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Gratuity Calculation
Gratuity Calculation = (Basic Salary x 15 x Number of years) / Standard working days
This calculation is as per the act.
Thank you.
From India, Coimbatore
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Gratuity calculation.doc
Gratuity Calculation tool.xls