Gratuity Calculator
Gratuity is a financial benefit given to employees after completing at least 5 years of continuous service. Use this gratuity calculator to estimate your gratuity amount based on last drawn salary and years of service.
Gratuity Calculation Formula
As per the Payment of Gratuity Act (India), the formula is:
Gratuity = (Last Drawn Salary × 15 × Years of Service) ÷ 26
Here, 15 represents 15 days' salary for each completed year of service,
and 26 represents working days in a month.
Frequently Asked Questions (FAQ)
Who is eligible for gratuity?
An employee is eligible after completing 5 years of continuous service in an organization.
Is gratuity taxable?
Gratuity is partially or fully tax-exempt depending on employment type and limits.
Is gratuity mandatory?
Yes, under the Payment of Gratuity Act, eligible employees must be paid gratuity.
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