Few Fundamentals whilst Paying Gratuity:
1. Employee has to Complete 5 Years of Continous Service
2. Employee should have worked for min. 240 Days in Every Year(Excluding Holidays, but inclusive of Leave)
3. At the time of leaving the no.of Years should be rounded of to the nearset number, Ex: 5 years 6 defines that She/He has completed 5.5 Years hence, to be Rounded of to 6 Years. Likewise 5 Years 5 Months defines 5.45 Years hence, to be rounded of to 5 Years.
4. Basic is defined to be as Last Drawn Basic which includes Spl. Allowance+Dearness Allowance (if any).