Trending @Infosys; Gratuity
After how many years are we eligible for gratuity and how much amount will we get?
No, its not like that.
Gratuity depends on your last drawn Basic portion of your salary multiplies by no.of years you work in a company. And in a month they only consider for 15 days/26 working days.
For example your CTC is 10Lpa and your Basic pay is 40k and you worked for 5 years in a company. When you leave your current company you get around 1,15,000 as gratuity amount.
Basic Salary = Rs. 40,000
Number of Years of Service = 5
Using the formula:Gratuity = (Basic Salary × 15 / 26) × Number of Years of Service
Gratuity = (40,000 × 15 / 26) × 5
Gratuity = (23,077.69) × 5
Gratuity = Rs. 1,15,388.45
Don’t be in an assumption that you receive an huge amount when you complete 5 years in an organisation or company. It hardly covers 1-2 months of your current CTC.
Look for good offer and move on.
Joining bonus covers these amount.
After 5 year, and money depends on deduction or your ctc
