Gratuity eligibility and calculation: Are you eligible even with less than 5 yrs spent in a company? Check surprise answer
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GRATUITY CALCULATION: Gratuity = [(15 * Your last drawn salary * the working tenure) / 30] For example, you have a basic salary of Rs 30,000. You have rendered continuous service of 7 years and the employer is not covered under the Gratuity Act. Gratuity Amount = (15 * 30,000 * 7) / 30 = Rs 1,05,000. Under the Payment of Gratuity Act of 1972, you are eligible to receive the gratuity amount provided – a. You are near the age of superannuation. b. You have completed 5 years of work in the same org
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