The Death gratuity Calculator helps to calculate death gratuity with given information.
Gratuity refers to the amount that an employer pays his employee, in return for taking on tasks for the company. Employees employed for a minimum of five years are entitled to a gratuity, but this is usually a small percentage or a fixed sum. If an employee is disabled due to an injury or illness, they can draw the gratuity sooner than five years. The gratuity will consist of your salary/wages and the number of years you were employed by the company.
How Gratuity is Calculated?
The amount of gratuity for employees whose employer is covered under the Gratuity Act :
Gratuity = nb15 / 26
The amount of gratuity for employees whose employer is not covered under the Gratuity Act :
Gratuity = nb15 / 30
Where n = Tenure of service completed in the company
b = Last drawn basic salary + dearness allowance
The following employees are eligible to request a gratuity from their employer:
- You should be eligible for superannuation
- You should have retired from your service
- You should have resigned after completing 5 years with the same employer
- In the event of death, the Gratuity amount will be given to the Nominee chosen by the Employee.
- If the employee suffers from a disability caused by an illness or accident.
How to calculate a death gratuity with our calculator?
Step 1 : The Total service years and months are automatically calculated and displayed in the input fields.
Step 2 : Enter the monthly salary of the employee including Basic Pay & Dearness Allowance.
Step 3 : Gratuity for employees under the Gratuity Act, as well as gratuity for employees not covered under the Gratuity Act, will be calculated and shown.