Hi
The formula for calculating Gratuity is
Last drawn salary X 15 X Number of completed year service divided by 26 . The out put is the gratuity amount to be paid. If the complated year of service comes more than 6 months then it needs to be rounded off the next whole number , if it is less than 6 months those period shall not be considered for the Calculation.
Eligibility
1. Any person employed on wages/salary.
2. At the time of retirement or resignation or on superannuation, an employee should have rendered continuous service of not less than five years,
3. In case of death or disablement, the gratuity is payable, even if he has not completed 5 years of service.
From United States, Bentonville
The formula for calculating Gratuity is
Last drawn salary X 15 X Number of completed year service divided by 26 . The out put is the gratuity amount to be paid. If the complated year of service comes more than 6 months then it needs to be rounded off the next whole number , if it is less than 6 months those period shall not be considered for the Calculation.
Eligibility
1. Any person employed on wages/salary.
2. At the time of retirement or resignation or on superannuation, an employee should have rendered continuous service of not less than five years,
3. In case of death or disablement, the gratuity is payable, even if he has not completed 5 years of service.
From United States, Bentonville
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