As per the law laid by the Government of India, both private and government sectors employees are entitled to receive social security benefits on their retirement or when they leave the job. Such an amount paid by the employer as a gratitude for the long-term service of the employee is termed as the gratuity. This amount is tax-free (maximum 10 lakhs for a private employee). But, in general, it is only paid if the employee has worked for the same company for more than 5 years.

Thinking of how to calculate gratuity in India? You don't need any formula or complex calculations, simply use Bajaj Capital’s online Gratuity Calculator and know how much gratuity amount you will receive at the time of your retirement or on finishing your service of particular years at an organization.

Just fill certain essential details like your basic salary, age, the number of years served in the organization, growth rate, and the retirement age, and at one click know your gratuity amount.