My HR people had mentioned that the Salary for the calculation of Gratuity is Rs.9823.
Completed years of service is 8 years.
Amount of Gratuity is Rs.51004.
Can u explain me how the calculation was made?
venkatesh (Tax Consultant) (80 Points)
26 September 2013My HR people had mentioned that the Salary for the calculation of Gratuity is Rs.9823.
Completed years of service is 8 years.
Amount of Gratuity is Rs.51004.
Can u explain me how the calculation was made?
jakson
(Accountant)
(41 Points)
Replied 23 January 2014
Generally a gratuity calculation India is calculated by the employee's basic salary and the years of working experience. With the help of this link, you can calculate any gratuity- https://easycalculation.com/finance/gratuity-calculation-india.php.
Thank you.
911lawsuitloans
VIGNESH
(Manager Finance &Accounts)
(327 Points)
Replied 11 February 2014
The calculation seems to be right
9823*15/26*9
There is a chance that you have worked for 6 months or more during the 8th year, Hence the same has been rounded off to 9
Vignesh Ashok Kumar
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
