Gratuity Calucaltion
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 November 2010
Please let me know the formula for Gratuity calculation with meaning for Salary and no of years of service for this purpose
Ajay Mishra
(Expert)
15 November 2010
Hi
Grautity Formula : Basic + Da * 15 * No of Years / 26
26: No of Working Days per Month i.e Common
For Example :
If an eployee working more than 6 months treat as one year. But you want to calculate correct amount then use this formula
For 10 Years 2 Months 15 Days
For One Year approximately 2 month goes to leave that is govt holidays..
so we take 10/12 = 0.83
0.83 * 2.15 ( that is month and days )
we get 1.7845 then we take year as 10.17845
grautity = 6000 (Basic 4000 DA 2000) * 15 * 10.17845 / 26
= 35,233.00
Grautity Formula : Basic + Da * 15 * No of Years / 26
26: No of Working Days per Month i.e Common
For Example :
If an eployee working more than 6 months treat as one year. But you want to calculate correct amount then use this formula
For 10 Years 2 Months 15 Days
For One Year approximately 2 month goes to leave that is govt holidays..
so we take 10/12 = 0.83
0.83 * 2.15 ( that is month and days )
we get 1.7845 then we take year as 10.17845
grautity = 6000 (Basic 4000 DA 2000) * 15 * 10.17845 / 26
= 35,233.00
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