Gratuity Calculator

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Gratuity Calculator

If you work for a private company that offers EPF benefits, you can receive gratuity after working there for 5 years. However, if you get injured or disabled due to an accident or illness, you can get gratuity before completing 5 years. Tradingo offers a free gratuity calculator to help you figure out how much your company owes you. The amount you receive depends on your final salary and the number of years you've worked for the company. These payments are governed by the Payment of Gratuity Act 1972.

What is a Gratuity Calculator?

A gratuity calculator helps you figure out how much money you'd get when you leave a job after working there for five years without a break. It's useful for estimating your retirement benefits from the company. You just need to input your last salary and how long you've been working there continuously. Your last salary should include your basic pay, any bonuses, and commissions from sales.

How to Calculate Gratuity?

The formula used by our online gratuity calculator is:

G = n*b*15/26

In the formula, the values are the following:

  • n = number of years you have worked in the concerned organization
  • b = Last drawn basic salary plus Dearness Allowance (DA)
  • G = Gratuity amount you are eligible for

Benefits of Gratuity Calculator

Here are a few benefits of using a gratuity calculator:

  • The Gratuity Calculator is a simple tool that helps you estimate your gratuity based on your salary and years of service.
  • It provides quick and easy-to-understand figures, allowing you to plan your finances effectively.
  • With just a few inputs, you can get an estimate of your gratuity within seconds.
  • This tool assists you in making smart investment decisions with your gratuity for maximum returns.
  • Whether at home or anywhere, you can use the Gratuity Calculator anytime, anywhere to know your gratuity amount.
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What is gratuity?

Gratuity is a sum of money that an employer pays to an employee in gratitude for their service upon leaving the job after a certain period.

How is gratuity calculated?

Gratuity is typically calculated based on the employee's basic salary and the number of years they have worked for the employer.

Who is eligible for gratuity?

Generally, employees who have completed a minimum period of service, often five years, are eligible for gratuity.

Can I withdraw my gratuity before leaving the job?

Usually, gratuity is paid out only when you leave the job after completing the required years of service. However, some exceptions may apply in specific circumstances.

Is tipping mandatory?

Tipping is typically voluntary, but it is customary in many service industries to show appreciation for good service.