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Learn gratuity under the Income Tax Act with PensionBox
Remy Sharp
Vaishnavi Verma
  • May 22, 2024
  • Personal Finances
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    Blog Related Questions

    How is gratuity calculated for an employee?Gratuity is calculated using the formula: Gratuity = (15/26) x Last drawn salary x Number of years of service. The last drawn salary includes the Basic and Dearness Allowance (DA). The Payment of Gratuity Act, 1972, caps the maximum amount payable at Rs. 20 lakhs.

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