Hello!
Just am wondering as per Gratuity Calculators as well as formulas give even in various sections here.
There is talk of Basic + D.A for calculation of Gratuity.
Just want to know if Grade Pay has to be included in the calculation or left out.
Secondly is the cap at 3.5 lahks still applicable or has it already been revised to 10 Lakhs.
Response to the same will be highly appreciated.
Regards
From India, Patna
1Just am wondering as per Gratuity Calculators as well as formulas give even in various sections here.
There is talk of Basic + D.A for calculation of Gratuity.
Just want to know if Grade Pay has to be included in the calculation or left out.
Secondly is the cap at 3.5 lahks still applicable or has it already been revised to 10 Lakhs.
Response to the same will be highly appreciated.
Regards
From India, Patna
The calculation of Gratuity is as follows
(BASIC + DA )/26 AND THEN MULTIPLIED BY 15 AND THEN MULTIPIED BY NO. OF YEARS OF SERVICE.
While calculating number of years of service it should be kept in mind that in excess of 6 months it should be rounded off.
The ceiling is still 3.5 lakh
Sudipta Chaudhuri
From India, Calcutta
(BASIC + DA )/26 AND THEN MULTIPLIED BY 15 AND THEN MULTIPIED BY NO. OF YEARS OF SERVICE.
While calculating number of years of service it should be kept in mind that in excess of 6 months it should be rounded off.
The ceiling is still 3.5 lakh
Sudipta Chaudhuri
From India, Calcutta
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Gratuity calculation.doc
Gratuity Calculation tool.xls