How will be the Gratuity Calculated if company terminates any employee?
From India, Mumbai
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1From India, Mumbai
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I came to know that it is calculated following way Last drawn salary * 26/26* No.of years of service
From India, Mumbai
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From India, Mumbai
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sir if you have completed 5 years of continuous service. 240 physical present in each year then last drawn basic+da(Cola) of 15 days salary out of 26 days * no of years worked.
From India, Nagpur
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From India, Nagpur
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Gratuity Eligibility and Calculation
Termination, resignation, or retirement does not affect gratuity eligibility. If the employee has completed 5 years of service as per the Act, they are to be paid the last drawn basic salary, DA, FDA, VDA divided by 26, multiplied by 15, and then by the number of years of service.
From India, Hyderabad
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Termination, resignation, or retirement does not affect gratuity eligibility. If the employee has completed 5 years of service as per the Act, they are to be paid the last drawn basic salary, DA, FDA, VDA divided by 26, multiplied by 15, and then by the number of years of service.
From India, Hyderabad
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Less than 5 years service - Eligibility for payment of gratuity.pdf
Gratuity calculation.doc