For employees leaving a job or planning retirement who want to know their gratuity payout. Enter your last basic plus DA and service years to see the amount and how it compares to the tax-exempt cap.
Gratuity payable using the 15 / 26 formula for covered employees.
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You enter
Last monthly basic + DA Rs 50,000, Years of service 7
The tool shows
Gratuity Rs 2,01,923; Tax-exempt cap Rs 20,00,000; Amount above cap Rs 0
For employers covered by the Payment of Gratuity Act it is 15 x last monthly basic plus DA x years of service / 26. The 26 stands for working days in a month.
Usually five years of continuous service. Under the Act, a final part year of more than six months is generally rounded up to a full year, so enter years accordingly.
Up to Rs 20 lakh in a lifetime for covered private employees. The calculator shows any amount above that cap, which would be taxable.
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