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Gratuity calculation |
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Dear Sir,
We (Technopak Advisors Pvt. Ltd.) have a gratuity trust.
Please advise us what will be gratuity calculation:-
1) Basic*26/15*numbers of year
or
2) 10 month average salary
Please advise me what will be right calculation with example.
Thanks
Narendra
9910365950
Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
It is not only basic only but the wages as defined under The Gratuity Act. The formula would be last drawn wages/26x15 days (For every completed year of service or part thereof in excess of six months) or Rs. 10 lac. This is minimum one. Employer may offer better terms.
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