Frequently Asked Questions FD Calculator
What is Gratuity?
Gratuity is amount of money given by the employer/company to his/her employee for the services given by employee during the there employment period. It is usually paid at the time of retirement but can be paid earlier, provided certain conditions are met.
How to use gratuity calculator online?
This is very simple gratuity calculator online for India. This Gratuity calculator is useful for all employee like all for central government employees,
all for bank employees, private employees, government employees etc.
Find the below steps to calculate the employee gratuity using gratuity calculator.
1) Select the no of year employee given the service to company. Minimum service should be 5 years.
2) Enter the last basic salary + DA amount.
3) After change of values automatically you will get the gratuity amount.
What is eligibility of the Gratuity
Employee get eligible for the gratuity if he/she after completed five year of service in the same company/organization.
What is the gratuity calculator formula in India?
gratuity calculator formula is = ((S * P * 15) / 26).
In the above formula, components are
S = How many years of service given by the employee to company/organization.
P = Last Monthly Basic Pay + DA amount
After completion of 6 years of service and 50,000/- basic + DA then gratuity will be
1,73,077 = ((6 * 50,000 * 15) / 26).