Gratuity

Any employee of a private company that provides EPF facilities is eligible to receive an amount as gratuity after completing 5 years of service. However, an employee is also eligible to get the gratuity before five years if he/she gets injured and disabled in an accident or due to a disease. Groww provides you with a free gratuity calculator which you can use and calculate how much your organization owes you. All gratuity payments are controlled by the laws laid down under the Payment of Gratuity Act 1972. The amount depends on the last drawn salary and the years of service served to the company.

How to calculate Gratuity?

Growth uses a proprietary formula that is benchmarked with other similar offerings. The formula used by our Growth gratuity calculator is:

G = n*b*15/26

In the formula, the values are the following:

  • N/n The number of years you have worked in the concerned organisation
  • B/b Last drown basic salary Dearness Allowance (DA)
  • G Gratuity amount you are eligible for