New Delhi: From the salary of an employee working in any company, money is also collected for his PF and gratuity. The amount of gratuity is very important. Now there is a great news for employees. The Narendra Modi government of the Center is going to change the rule of gratuity. To change the rule of gratuity, the central government will bring the amended bill in Parliament this year in the winter enemy.
So far, according to the rule of gratuity, it is necessary for any employee to work in the company for five years, but now the Modi government is going to reduce this time period. This can be done one year in the amended bill. If the government takes this decision and the bill is passed then it will definitely be a big gift for the working class. If this bill is passed then the private workers will get the most benefit. Even if he leaves the company after one year, he will get the amount of gratuity.
What is meant by gratuity amount?
Understanding gratuity in simple terms, it is an additional benefit given by the company for your service. This is available only when an employee works for five years in one company. Apart from this, gratuity is also given in some other situations like if an employee dies.
What is the amount received as gratuity?
The decision of how much amount an employee will get in gratuity depends on two things. The first is how much his salary is and the second is the duration of service for his company.
Calculate Gratuity Amount
Calculation of gratuity is done under a simple rule. Gratuity is calculated by multiplying the 15-day salary of an employee who is covered under the gratuity law by the number of years he has drawn in the office. The final basic salary includes dearness allowance.
Gratuity Formula
(15X Last Basic Salary X Years of Working)/26
Know your gratuity
That is, if your basic salary is 25000 rupees and you leave the job after 10 years in the company, then the gratuity you get will be (15X25000X10) / 26 = 1 lakh 45 thousand 230 rupees.
