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Gratuity Calculation

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ORIGINAL POST
Posted by orangemoon 17 yrs ago
When EDB says, 15 % gratuity after 2 years what does it mean?


Is it calculated on the monthly salary or yearly?


For example if somebody earns 10K a month, how much will be 15% gratuity?


Thanks for ur help



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COMMENTS
jdhk 17 yrs ago
Generally a gratuity would be paid as a lump sum on completion of the full 2 year contract. It would be calculated as a % of the total salary earned over the 2 year period.

So using your example

Total salary: 10K x 24 months = 240K

Gratuity: 15% x 240K = 36K

So you would receive a lump sum of 36K at the end of two years.


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orangemoon 17 yrs ago
thanks jdhk, that was helpful.

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