SquishyBanana
4moTrending @Accenture; Gratuity Eligibility
Could someone please clarify the conditions under which I would be eligible for gratuity? I will have completed 4.9 years of service, including my notice period.
4mo ago
FloatingNarwhal
4mo
Yes you are eligible to get gratuity
FloatingNarwhal
4mo
4 years 8 months / 4 years 240 days are sufficient to be eligible for gratuity.. Provided gcp, loa is counted if taken
FloatingNarwhal
4mo
For eg in this 4 years 9 months, if you have been in loa for 3 months, then it's 4 years 6 months, you will not be eligible for gratuity
SwirlyBagel
4mo
Is there any formula to calculate gratuity amount?
SquishyPenguin
4mo
- If you have completed 4 years and 240 days then you are eligible for Gratuity.
- Gratuity is not paid along with your salary. Gratuity payments happen separately i.e. within 30 days from your Last Working Day (LWD).
- It will be calculated on your last monthly Basic Salary drawn.
- Here's the math: 15/26 x Last month's Basic Salary x Number of years completed in the organization.
- If you have completed 5 years 6 months, it will be considered as 6 years; but 5 years 5 months will be taken as 5 years.
- Leave of Absence (LOA), Notice Period (NP) and GCP are all considered while calculating the Gratuity period.
WigglyMochi
4mo
Please calculate from ur joining date if it's 4 years 240 days or above, notice period days will also be considered, gratuity forms need to be filled and shared in the last month of notice period .
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