Dear All,
I have doubt in Excel for Gratuity Calculation and is that we have calculated that if any one completed 5 years and 7 months, we calculated 6 year for Calculation of Gratuity and one completed 10 years and 4 months, we calculated 10 years for Calculation of Gratuity.
Now my question is that i have required exact formula for above situation.
Thank & Regards,
pm44
From India, Ahmadabad
1I have doubt in Excel for Gratuity Calculation and is that we have calculated that if any one completed 5 years and 7 months, we calculated 6 year for Calculation of Gratuity and one completed 10 years and 4 months, we calculated 10 years for Calculation of Gratuity.
Now my question is that i have required exact formula for above situation.
Thank & Regards,
pm44
From India, Ahmadabad
Sir Pls advise how is the Gratuity calculation done ,is it taxable it is pais when an employee leaves and has worked for atleast 5 years, is the same taxable. Thanks Upasana
From India, Gurgaon
From India, Gurgaon
Sir,
If I have 15 years of service and have 6 months’ approved leave but without pay for 6 months for a particular time during that period, will my number of completed years be considered 14 years ? That is, what is the status of leave without pay? is it considered a part when calculating completed number od years ?
Gaurav
From India, Hyderabad
If I have 15 years of service and have 6 months’ approved leave but without pay for 6 months for a particular time during that period, will my number of completed years be considered 14 years ? That is, what is the status of leave without pay? is it considered a part when calculating completed number od years ?
Gaurav
From India, Hyderabad
Solution : Many Company are doing aforesaid calculation like 5 year 3 months means gratuity calculate for 5 years. If they organization have union means they must be provide for exact of employer completion.
Solution :
one year gratuity = 15 days basic
one month gratuity = 15 / 12 or 1.25
now you calculated for exact reaming months.
Basic = 6500
No of year Experience = 6 year and 8 months
one year =(6500 / 26 )*15 = 3750
or
one month = (6500/26) * 1.25 = 312.50 one year = 12 *312.50 =3750
6 year gratuity = 6 * 3750 = 22500
8 month gratuity = 8 * 312.50 = 2500
6 year and 8months gratuity is 25000
(or )
6 year and 8 months then take is = 7 years
formula = ((Basic + Da) * no of year experience )* 15 /26
=6500 * 7 * 15 /26 = 26250 in this case management given more money to
employee
From India, Salem
Solution :
one year gratuity = 15 days basic
one month gratuity = 15 / 12 or 1.25
now you calculated for exact reaming months.
Basic = 6500
No of year Experience = 6 year and 8 months
one year =(6500 / 26 )*15 = 3750
or
one month = (6500/26) * 1.25 = 312.50 one year = 12 *312.50 =3750
6 year gratuity = 6 * 3750 = 22500
8 month gratuity = 8 * 312.50 = 2500
6 year and 8months gratuity is 25000
(or )
6 year and 8 months then take is = 7 years
formula = ((Basic + Da) * no of year experience )* 15 /26
=6500 * 7 * 15 /26 = 26250 in this case management given more money to
employee
From India, Salem
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Gratuity calculation.doc
Gratuity Calculation tool.xls