Employees receive gratuities for their services. Service type determines the amount of gratuity. Gratuities are governed by a specific rule in India. In this blog, we will discuss how the Gratuity Act of 1972 is calculated. This is a layman’s definition of gratuity. Now let’s have a detailed discussion. When a worker or employee of … Read More “Understand the 1972 Gratuity Act’s rules for gratuity payments” »
Tag: Gratuity Calculator
Gratuity Calculator
Gratuity Calculator
Employers use the following formula for gratuity payments – In general, gratuity is calculated as follows: (Last Drawn Basic Salary + Dearness Allowance) * 15/26 * the number of years of service. Gratuity is a scheme for employees in India under the Payment of Gratuity Act, 1972. An employee receives a lump sum as a … Read More “India’s Gratuity Payment Rule” »