Gratuity Calculation Under Payment of Gratuity Act 1972

Before moving towards Gratuity Calculation under Payment of Gratuity Act 1972 we must know what is gratuity? and who can get gratuity (eligibility criteria of gratuity)?

ये जानने से पहले की Gratuity की Calculation कैसे करते है, आइये पहले ये जान लेते हैं कि Gratuity  क्या है  ?और किसको Gratuity  मिलती है ?

What is Gratuity?

Gratuity is a reward or gift given by an employer to the employee for the long service given by an employee to his organization or company.
Gratuity word actually derived from gratitude which means employer shows gratitude to his employee for the long services given to him or his company.
Gratuity के बारें मैं जानने के लिए आप इस वीडियो को भी देख सकते हैं जिसमें  विस्तारपूर्वक समझाया गया है और अगर आपको वीडियो अच्छा लगे तो चैनल को सब्सक्राइब और लाइक जरूर करें | 

Who is eligible for Gratuity?

For eligibility of Gratuity an employee who has completed 5 years in the organization is eligible for gratuity.
Also in case of Death or Permanent Disablement the criteria of 5 years not required for gratuity payment.
So these are the 5 conditions in which an employee gets Gratuity payment :
  1. When an employee Retired from his services
  2. Superannuation
  3. Resigned (completed 5 years)
  4. Death of Employee
  5. Permanent Disablement

How to Calculate the Gratuity Amount?

Gratuity is calculated on the 15 days of wages i.e. Basic + DA of completed years.
Gratuity Formula to calculate Gratuity Amount ↴

Gratuity = (Basic+DA)/26*15* total years worked
*26 is the working days in a month
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