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Gratuity calculation

udit gupta
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
Gratuity calculation based on wages as defined, pro rata by working days per year, subject to a statutory ceiling. Gratuity is calculated on wages as defined under The Gratuity Act, using the employee's last drawn wages apportioned to a working day and multiplied by completed years of service (with rule for service portions exceeding six months); this yields the statutory minimum subject to an overall statutory ceiling, while employers may provide enhanced contractual benefits. (AI Summary)
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CAGOPALJI AGRAWAL on Sep 18, 2010
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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