WisdmLabs offers a gratuity as a mark of appreciation for the exemplary loyalty shown by those who’ve worked with us for a period of 5+ years of continuous service, at the time of separation.
The gratuity amount is dependent on the tenure of service and the last drawn basic salary.
Gratuity =(Basic salary + Dearness allowance)x(number of years of service)x 15/26
For example-
- Let’s say you’ve completed 5 years and 5 months of service with us and your basic + DA salary is 30,000 then your gratuity will be (30000*5*15/26) = 86538.
- Or let’s say at the time of leaving, you’ve completed 5 years and 6 months of service and your basic + DA salary is 30,000 then your gratuity will be (30000*6*15/26) = 103846.
The gratuity amount is income-tax-exempted up to 20 lakhs.