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HOW TO CALCULATE GRATUITY Monthly salary when you quit

Formula: (Monthly salary/26)x15x10

Number of years in the company:

10 years

Rs1 lakh

Gratuity amount: (100000/26) x 15 x 10 = Rs5.76 lakh

WHAT YOU GET 0

1

2

3

4

Maximum you get as gratuity: Rs3.5 lakh* *The current limit under the payment of gratuity Act

5

6

7

8

Rs5.76 lakh** You may get

9

10

lakh limit

**If the proposal to hike the maximum limit of gratuity is extended to Rs10 lakh


http://www.livemint.com/articles/2010/03/21204239/1B19A747-B680-4B03-BDA2-CAF9B9728B43ArtVPF