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
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Maximum you get as gratuity: Rs3.5 lakh* *The current limit under the payment of gratuity Act
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Rs5.76 lakh** You may get
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10
lakh limit
**If the proposal to hike the maximum limit of gratuity is extended to Rs10 lakh