What Is Gratuity? How Is It Calculated?

1.	What Is Gratuity? How Is It Calculated?
Answer» Gratuity is an amount ACCUMULATED over the tenure of employees, calculated USING a certain formula and is payable when an employee retires or resigns. The formula for calculation of gratuity is: basic pay divided by no of working days in a month MULTIPLIED by total number of years WORKED. Gratuity is an amount accumulated over the tenure of employees, calculated using a certain formula and is payable when an employee retires or resigns. The formula for calculation of gratuity is: basic pay divided by no of working days in a month multiplied by total number of years worked.

Answer»

Gratuity is an amount ACCUMULATED over the tenure of employees, calculated USING a certain formula and is payable when an employee retires or resigns. The formula for calculation of gratuity is: basic pay divided by no of working days in a month MULTIPLIED by total number of years WORKED.

Gratuity is an amount accumulated over the tenure of employees, calculated using a certain formula and is payable when an employee retires or resigns. The formula for calculation of gratuity is: basic pay divided by no of working days in a month multiplied by total number of years worked.

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