Gratutity rate
This query is : Resolved
22 July 2008
In most of the cases gratuity is deducted @ 4.81% of basic. why the rate is taken as 4.81%. was it anywhere mentioned under the payment of gratuity act?
if yes, under which section?
if yes, under which section?
12 July 2012
Gratuity is applicable to those emoloyee who have completec continues 5 or more year services. They should worked 240 days in every year. Gratuity is payable 15 days per every working years. is any employee worked more then 6 month then count it as full year and if less then 6 month then avoid it in calculation
Gratuity = Basic Salary / 26 * years of service * 15 days
i.e. if Mr X was working since last 8 years and 7 month and he left the service and his last basic was 6000/- per month then
Gratuity amount = 6000/26*9*15
= 31154
Gratuity = Basic Salary / 26 * years of service * 15 days
i.e. if Mr X was working since last 8 years and 7 month and he left the service and his last basic was 6000/- per month then
Gratuity amount = 6000/26*9*15
= 31154
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