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Gratuity Calculator: Use ClearTax online gratuity calculator to know gratuity amount of money you will get on retirement. Only those employees who have been employed by the company for five years or more are given the gratuity. Check out gratuity formula, percentage, eligibility, rules in India.
Use our online gratuity calculator to estimate your gratuity you will get when you retire. Know how to calculate gratuity with formula with example.
Any employee of a private company that provides EPF facilities is eligible to receive an amount as gratuity after completing 5 years of service. However, an employee is also eligible to get the gratuity before five years if he/she gets injured and disabled in an accident or due to a disease.
The Gratuity Calculator utilises a formula to estimate the gratuity amount you can receive, typically after completing five years of service in your current company. Private company employees eligible for Employee Provident Fund (EPF) benefits become eligible for gratuity after this period.
Gratuity Calculator is to estimate the amount of gratuity an employee is entitled to receive from their employer as a part of their employee benefits package. The gratuity calculation works on a formula with inputs like monthly income, the service duration and dearness allowance.
Nov 3, 2023 · Gratuity= (Monthly basic salary*15*completed years of service)/26. According to this formula, the time period of over six months or more is considered as one year. Monthly basic salary is the addition of basic pay and dearness allowance.
Gratuity Rules. Gratuity is a lump sum amount that employers pay their employees as a sign of gratitude for the services provided. The gratuity rules are mandated under the Payment of Gratuity Act, 1972. The act was passed by the Parliament on 21st August 1972 and came into force on 16th September the same year.
