Mmo 2024 Gratuity Formula. The computation of gratuity aligns with the formula prescribed by the payment of gratuity act, expressed as gratuity = last drawn salary * (15/26) * number of years of service. Uae gratuity calculation formula 2024 with examples formula for limited contract less than 5 years gratuity amount = (basic salary x total service years x 21.
The simplest formula to calculate gratuity earned by an employee using ctc amount is as follows: How to calculate gratuity for employees covered under the payment of gratuity act?