How interest is calculated on delayed payment of gratuity?
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Interest Formula - option 02
Total delayed gratuity x 10% (ROI with simple interest) x No of days delayed / 365 (no of days in a year)
Total delayed gratuity x 10% (ROI with simple interest) x No of days delayed / 365 (no of days in a year)
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HEY BUDDY HERE IS UR ANSWER !!
As per the The Payment of Gratuity Act, 1972,Gratuity is calculated as 4.81% of your basic pay. Gratuity is actually calculated based on basic salary .Basic will some percent of CTC like 30 or 40 or 50% and gratuity is 4.81% of basic.
Hope u like !!
》》 BE BRAINLY 《《
As per the The Payment of Gratuity Act, 1972,Gratuity is calculated as 4.81% of your basic pay. Gratuity is actually calculated based on basic salary .Basic will some percent of CTC like 30 or 40 or 50% and gratuity is 4.81% of basic.
Hope u like !!
》》 BE BRAINLY 《《
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