This is Gratuity Calculator. You can also use it through our mobile application.
Gratuity is a form of payment. It’s a financial reward to employees who’ve helped you in your business. The gratuity formula is based on the employee’s salary, number of years with the company, and many other factors.
Gratuity is a monetary benefit given by the employer to his employee at the time of retirement.
Effectively, it is half a month’s salary on a basis of a year’s salary.
Unlike the employee provident fund which includes the employee’s contribution, the gratuity amount is entirely paid by the employer.