I am employed with a nationalised bank as an officer for last 38 years and my basic+da is 35000/= what will be my gratuity on retirement. does the rule are different for clerical & officer
From India, Mumbai
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From India, Mumbai
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Gratuity is equal for all; it's up to a maximum of Rs 10,00,000/- if eligible. The calculation is as follows: last basic + DA / 26 * 15 * number of years served.
Suppose your last salary is Rs 40,000/- and you worked for 32 years, then:
40,000 / 26 * 15 * 32 = Rs 7,38,461/-
From India, Visakhapatnam
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1Suppose your last salary is Rs 40,000/- and you worked for 32 years, then:
40,000 / 26 * 15 * 32 = Rs 7,38,461/-
From India, Visakhapatnam
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In nationalized banks, as per gratuity rules, gratuity is payable at the rate of 15 months of basic pay, subject to a maximum of Rs. 1,000,000/-. You have provided your total pay (Basic + DA) as Rs. 350,000, but not the basic pay alone.
As per my understanding, you need to calculate gratuity by two methods:
1. Basic pay x 15 = a certain sum
2. \( \frac{35,000 \times 15 \times 32}{26} = Rs. 646,000/- \)
Please confirm the calculation. You will receive the higher of the two sums, subject to the maximum of Rs. 1,000,000/-.
From India, Mumbai
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As per my understanding, you need to calculate gratuity by two methods:
1. Basic pay x 15 = a certain sum
2. \( \frac{35,000 \times 15 \times 32}{26} = Rs. 646,000/- \)
Please confirm the calculation. You will receive the higher of the two sums, subject to the maximum of Rs. 1,000,000/-.
From India, Mumbai
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Gratuity calculation.doc
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