Darpan Thakkar (Group Manager) 17 January 2013
In the formula used to calculate gratuity (Basic)/26*15*(number of years of service) do take the year upto one decimal place or two or is it rounded off as wholenumber? as it is bring difference in calculation. I had completed 6.35 years with my previous organisation. Will it be taken as 6 years / 6.3 years / 6.35 years for gratuity calculation?
Kumar Doab (FIN) 17 January 2013
[(Basic Pay + D.A) x 15 days x No. of completed years of service] / 26
Basic+ DA is as last drawn.
Years of service as def in sec 2(b) (i) (ii), 4 (2) e.g. of Payment of Gratuity Act
e.g. if years of service is 6.35 years{<6Y} it may be counted as 6 years.
If it is 6.8years {>6Y} it may be counted as 7 years.
Valuable advice of learned experts/members is sought.
Sourav Hajra (Director) 18 March 2013
Dear Darpan,
If you have completed 6.35 years in your organization, your gratuity amount for calculation will consider your work experience as 6 years. If you had worked for 6.6 years (not 6.5), then your gratuity amount would have been calculated on 7years
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