Hello,
Can anyone tell me the formula for Gratuity Calculation? I have been working with this company for 6 years and have never withdrawn any gratuity amount.
Thank you in advance for your response.
Thank you.
Chetan
From India, New Delhi
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Can anyone tell me the formula for Gratuity Calculation? I have been working with this company for 6 years and have never withdrawn any gratuity amount.
Thank you in advance for your response.
Thank you.
Chetan
From India, New Delhi
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Dear Mr. Chetan ji, Its very simple formula; Basic + D.A x 15 / 26 x No.of year in service (Minimum service put up is Five Years must) Regards, PBS KUMAR
From India, Kakinada
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592From India, Kakinada
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Hi,
To claim gratuity, you need to complete 5 years of service. The gratuity formula is as follows:
basic * number of years worked * 15/26
For example, if your basic salary is 4000/- and you have worked for 6 years, then the calculation would be:
4000 * 6 * 15 / 26
Thank you,
Uttama
From India, Mumbai
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To claim gratuity, you need to complete 5 years of service. The gratuity formula is as follows:
basic * number of years worked * 15/26
For example, if your basic salary is 4000/- and you have worked for 6 years, then the calculation would be:
4000 * 6 * 15 / 26
Thank you,
Uttama
From India, Mumbai
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Hi,
Mr. PBS Kumar has provided the correct formula, which aligns with the Payment of Gratuity Act. Gratuity should be calculated based on Basic and DA, with the maximum amount payable being 3.50 lakhs. The minimum qualifying service period is five years.
Cyril
From India, Nagpur
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Mr. PBS Kumar has provided the correct formula, which aligns with the Payment of Gratuity Act. Gratuity should be calculated based on Basic and DA, with the maximum amount payable being 3.50 lakhs. The minimum qualifying service period is five years.
Cyril
From India, Nagpur
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Payment of Gratuity Act, 1972 & The Rules.ppt
THE PAYMENT OF GRATUITY ACT 1972.doc