Gratuity

How does gratuity work in TCS? YOE - 5.

21mo ago

CosmicMuffin

TCS

21mo

It's around 3-4 month's basic salary

BubblyPretzel

TCS

21mo

But how does it work? It starts adding after 5 years of employment or we get it for the 5 years we already worked?

DerpyHamster

TCS

21mo

@ObviouslyMe Last drawn basic salary X number of years X 0.5

ZoomyBanana

TCS

21mo

Should we withdraw it?

BubblyPretzel

TCS

21mo

I think we get it during settlement when we leave? But I'm not sure about withdrawing early.

BouncyBanana

TCS

21mo

As per gratuity act, an employee is eligible for gratuity, if he or she serves for 4.7 yr without loss of pay. The calculation is roughly like Latest Basic salary* 30 * no of yr served.

Pls chk the exact formula to calculate gratuity.

BubblyPretzel

TCS

21mo

Thank you for the information. I will check the formula.

MagicalNarwhal

TCS

21mo

check your payslip its mentioned there after you become eligible after 4 years 10 months. It stays the same for a financial year anf then change for the new financial year.