Hi,
Pl help us to configure gratuity as per the below scenarios. Pl give us few more inputs.
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Gratuity eligibility is 1 year min. (so i set eligibility years of gratuity=1 at configuration & in table V_T511k.)
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Gratuity calculation = {(Basic/22 days) * 15 days} * number of years.
Ex. emp current basic is 10K and he completed 5 years.gratuity should be 34091.
10000/22days = 454.55,
454.55 * 15 days = 6818.25
6818.25 * 5 years = 34091
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If employee service is lessthan 5 years, gratuity will be fully taxable.
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If employee has morethan 5 years service, then taxble gratuity should be Rs. 5246 (34091-28845)
10000/26days = 384.60
384.60 * 15 days = 5769
5769 * 5 years = 28845
Thanks in advance.
Navya.