How to calculate Retirement and Service Gratuity?
Retirement and Service Gratuity – Calculation, Ceiling, Qualifying Service and Rates
7th Pay Commission Gratuity
Death, Retirement and Service Gratuity for CG Employees
How to calculate Gratuity?
Calculation of Gratuity = [ (Basic Pay + Dearness Allowance) x 15 days x Number of Years of Service ] / 26 Days.
Why calculating taken 26 Days instead of 31?
As per the labour law in India, the maximum working days in a month should be 26. Weekly holiday should be given to employees is compulsory.
What is the ceiling of Gratuity?
The 7th pay commission recommended to enhance the ceiling of Gratuity from Rs. 10 lakh to 20 lakh.
There are three types of Gratuity in force in Government services…