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#Employment #Gratuity #Salary

Gratuity, derived from the word ‘Gratitude’, is the amount paid to an employee after retirement, completion of 5 years of employment and others
For employees covered under the Gratuity Act, 1972, the formula is 15 x last drawn salary x period of employment divided by 26
For employees not covered under the act , the formula is 15x last drawn salary x tenure of working divided by 30

Written By:Aman

Updated: December 22 2020 04:47:27 AM ET New Delhi, Delhi, India

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