GrtyCalcIndianEmpl.​zip

The term Gratuity has been derived from the term Gratuitous which means present or gift. It is the amount of money which employer pays to his employee on his termination as a reward for his past services/employment.

Gratuity = Last drawn wages × 15/26 × Completed years of Service (including a part of year in excess of six months)

Note:
Wages = Last Drawn
Month = Period of 26 Days
15 days wages = Last drawn wages × 15/26

There is no minimum service period defined for Gratuity payment, incase of death or disability during service, otherwise minimum service period = 5 years.