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Gratuity Calculation

The document outlines an employee's monthly and yearly salary breakdown, including a basic salary of Rs. 17,500 per month (Rs. 270,000 annually), allowances totaling Rs. 29,118 per month (Rs. 348,416 annually), employer benefits of Rs. 2,882 per month (Rs. 34,584 annually), resulting in a total cost to the company of Rs. 50,000 per month (Rs. 600,000 annually). It also includes a calculation of gratuity owed to the employee of Rs. 10,82 based on 6 years of service.

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267 views4 pages

Gratuity Calculation

The document outlines an employee's monthly and yearly salary breakdown, including a basic salary of Rs. 17,500 per month (Rs. 270,000 annually), allowances totaling Rs. 29,118 per month (Rs. 348,416 annually), employer benefits of Rs. 2,882 per month (Rs. 34,584 annually), resulting in a total cost to the company of Rs. 50,000 per month (Rs. 600,000 annually). It also includes a calculation of gratuity owed to the employee of Rs. 10,82 based on 6 years of service.

Uploaded by

meetushekhawat
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as XLSX, PDF, TXT or read online on Scribd
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Monthly 50000

Yearly 600000

Salary Heads Monthly Yearly


Basic 17,500 270,000
Dearness Allowances 5,000 270,000
House Rent Allowance 9,000 108,000
Children Education Allowances 100 1,200
Hostel Allowances 600 7,200
Other Allowance 13,118 157,416
Leave Travel Allowances 1,800 21,600
Gross(A) 47,118 565,416
Benefits Monthly Yearly
Provident Fund (Employer) 1,800 21,600
ESIC (Employer) - -
Gratuity 1,082 12,984
Total (B) 2,882 34,584

COST TO COMPANY (CTC) 50,000 600,000

* Note : Income tax will be deducted at actual as per Income Tax Rules
Basic 17500
DA 5000
Total 22500

6 years 90

77884.62
GRATUITY
Entity HR Topper
Emp Code 1234
Emp Name Anand R Mudaliar
Designation HR Head
Department Human Resources
DOJ 14-Apr-00
LDW 9-Dec-21

** Formula : (Basic+DA) / 26 x (No. of Years x 15) = Gratuity

Formula : 1 Basic + DA
A Divide by 26 26
Every Year 15 Days Salary
B 6 Years =15*6 Years
Final Calc (AxB) 77885
Total B+DA
Basic Salary 17500 22500
DA 5000 Yearly
Total Basic 22500 285577
6 Years
No. of Years 21 40797
No. of Months 7 One Month
No. of Days 239 3400
Total No. of Years 22 1082 4.81%
Gratuity Calc 285577
ears x 15) = Gratuity

22500
865

90
77885

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