Dear experts, As per The Payment Of Gratuity Act, 1972, Anyone can provide formula to calculate gratuity. Regards Thirumurugan
From India, Hyderabad
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33From India, Hyderabad
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The amount you get as gratuity depends on the number of years you have served and the last drawn monthly salary. Roughly, you get half a month’s Basic and DA for every completed year of service.
Formula to calculate gratuity amount: (Number of years of service) * (Last drawn monthly Basic and DA) *15/26.
For example, if you have served 30 years and draw monthly Basic and DA of Rs. 20,000 when you leave the job, you get gratuity of Rs. 3,46,154 calculated as (30 * 20,000 *15/26).
The formula has been posted in many posts of this forum.Search button would have instantly given you this formula.
From India, Pune
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Formula to calculate gratuity amount: (Number of years of service) * (Last drawn monthly Basic and DA) *15/26.
For example, if you have served 30 years and draw monthly Basic and DA of Rs. 20,000 when you leave the job, you get gratuity of Rs. 3,46,154 calculated as (30 * 20,000 *15/26).
The formula has been posted in many posts of this forum.Search button would have instantly given you this formula.
From India, Pune
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Formula for the calculation of Gratuity:
Gratuity = Last drawn month’s salary x 15days / 26 x Number of completed years of service.
For seasonal workers the formula for the calculation of gratuity is
Gratuity = Last drawn month’s salary x 7days / 26 x Number of completed years of service.
Maximum amount of gratuity payable under the Act is Rs. 10 lakhs [2] w.e.f. January 1, 2007.
From India, Mumbai
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Gratuity = Last drawn month’s salary x 15days / 26 x Number of completed years of service.
For seasonal workers the formula for the calculation of gratuity is
Gratuity = Last drawn month’s salary x 7days / 26 x Number of completed years of service.
Maximum amount of gratuity payable under the Act is Rs. 10 lakhs [2] w.e.f. January 1, 2007.
From India, Mumbai
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Payment of Gratuity Act, 1972 & The Rules.ppt
THE PAYMENT OF GRATUITY ACT 1972.doc