Hi Sir, I have one doubt in following formula for calculating Gratuity. ((Basic + DA)*15/26)* Basic means Current basic or Avg basic of experience
From India, Madras
From India, Madras
Dear member,
We are to consider the rate of last drawn basic wages while calculating gratuity.[sec.4(2)]
Regards,
R.N.Khola
From India, Delhi
355We are to consider the rate of last drawn basic wages while calculating gratuity.[sec.4(2)]
Regards,
R.N.Khola
From India, Delhi
It is very simple..
Basic+DA*15(days)/26*No of years (not less than 5 years)
Note*
1)7 days in case of seasonal establishment.
2) In case of death and permanent disablement the employer has to pay the gratuity even before 5 years
3) Under Gratuity Act 1972, now the maximum gratuity amount payable is Rs. 10,00,000
From India, Mumbai
Basic+DA*15(days)/26*No of years (not less than 5 years)
Note*
1)7 days in case of seasonal establishment.
2) In case of death and permanent disablement the employer has to pay the gratuity even before 5 years
3) Under Gratuity Act 1972, now the maximum gratuity amount payable is Rs. 10,00,000
From India, Mumbai
Dear Member,
This Act i.e. Payment of Gratuity Act, 1972 do not have any provision relating any contribution from any corner. The employer is liable to pay gratuity amount as & when payable.
Regards,
R.N.Khola
From India, Delhi
This Act i.e. Payment of Gratuity Act, 1972 do not have any provision relating any contribution from any corner. The employer is liable to pay gratuity amount as & when payable.
Regards,
R.N.Khola
From India, Delhi
if any person completed his service 27 year,5 month,24day & his basic+ DA 6000 how to calculate gratuity & calculate only 27 year or calculate also 27 year,5month,24 day
From India, Pune
From India, Pune
Hi Tandeep,
You Can find the formulae that states (Basic +D.A.)*15*5/26)
Which clearly states that 15000*15*5/26 = 43270
More clarification is 1125000/26 need to be done the sum amount will be the gratuity.
Regards
Anthony Pinto.
From India, Mumbai
You Can find the formulae that states (Basic +D.A.)*15*5/26)
Which clearly states that 15000*15*5/26 = 43270
More clarification is 1125000/26 need to be done the sum amount will be the gratuity.
Regards
Anthony Pinto.
From India, Mumbai
Hii Tandeep
Your calculation to the above question should be like this:
(15000*15/26 ) * 5 years of service
(225000/26) * 5 years of service
(8654) * 5 years of service
= rupees 43270.
So the actual Gratuity payment to the employee will be Rs 43270.
If the gratuity amount would be more than Rs 350000 then the employee will be entitled to a max of 350000 only.
Hope i have made you clear..
Mahesh
Executive (HR & Admin)
From India, Bangalore
Your calculation to the above question should be like this:
(15000*15/26 ) * 5 years of service
(225000/26) * 5 years of service
(8654) * 5 years of service
= rupees 43270.
So the actual Gratuity payment to the employee will be Rs 43270.
If the gratuity amount would be more than Rs 350000 then the employee will be entitled to a max of 350000 only.
Hope i have made you clear..
Mahesh
Executive (HR & Admin)
From India, Bangalore
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
FURMULA FOR CALCULATING GRATUITY.doc
SACHIN GRATUITY FORMULA SHEET.xlsx