Question

Mr.ravi retired on 15.6.2019 after completion of 26 years 8months of service and received gratuity of RS 600000 at the time of retirement his salary was basic salary RS 5000 Dearness allowance RS 3000 (60percent of which is for retirement benefits) commission 1 percent of turnover (turnover in the last 12 months was RS 1200000) bonus RS 12000 compute his taxable gratuity assuming a. he is a non government employees and covered by the payment of gratuity act 1972​

Answer 1

Answer:

Explanation:

Gratuity is dependent upon the total number of years served in the company and the last drawn salary. Then, Gratuity = A*B*15/26 ; 15 being wages for 15 days and 26 being the days of the month.