Gratuity Calculation

[Sumesh]

Can anyone help me to fix the below problem.

Problem : Gratuity Calculation
Points :
1) Gratuity is calculated on Basic Salary
2) First 3 Years of joining Gratuity will be 15 Days per year
3) 4th Year of joining, Gratuity will be 30 Days per year
4) Formula should include if the payment has been made for the first year or 2nd year

 

[sudipto3003]

dear sumesh,
welcome to the forum, gratuity calculation is already posted here earlier, please write "gratuity calculation" on the right hand top corner at search field you will find the posts at there. if not satisfied then reply again.

 

[Sumesh]

Hi Sudipto, Thanks for your reply. My question is different . I have attached the spread sheet with the notes.

 

[NARAYANK991]

Hi Sumesh ,

First , just one item of data is too little to draw conclusions about each and every case ; it would have been better if you could have given not just data , but enough worked out examples.

For instance , in the data you have given , it is mentioned that gratuity has been paid till June 18 , 2003 ; you also mention that the cut-off date till which gratuity is to be calculated is January 21 , 2014.

Can you work out and say what should be the balance gratuity which will be paid in this case , and if possible give the working ?

Narayan

 

[SirJB7]

Hi, Sumesh!

As a new user you might want (I'd say should and must) read this:
http://chandoo.org/forum/forums/new-users-please-start-here.14/

And regarding your issue, isn't it related to this? Maybe it helps you.
http://chandoo.org/forum/threads/help-for-uae-gratuity-formula.10163

Regards!

 

[Sumesh]

Hi Sumesh ,

First , just one item of data is too little to draw conclusions about each and every case ; it would have been better if you could have given not just data , but enough worked out examples.

For instance , in the data you have given , it is mentioned that gratuity has been paid till June 18 , 2003 ; you also mention that the cut-off date till which gratuity is to be calculated is January 21 , 2014.

Can you work out and say what should be the balance gratuity which will be paid in this case , and if possible give the working ?

Narayan

Dear Sir, Thank you for spending time on my question. I am forwarding some more data with the calculations in the attached spread sheet. Hope this will be OK for you to provide me an equation.

Thanks again in advance.
Sumesh

 

[NARAYANK991]

Hi Sumesh ,

Thanks for uploading your file with all the working. From what I can understand , the calculations are as follows :

1. The calculation of gratuity is on the basis of days elapsed from the joining date in terms of either 15 days for every 365 days , or after the third year , 30 days for every 365 days.

2. The above calculation is rounded up in case we have a fractional number of days in the result.

If so , check the uploaded file now. I have listed out the steps in which the final answer is calculated so that you can verify that the calculations are correct.

Narayan

 

[Sumesh]

Hi Sumesh ,

Thanks for uploading your file with all the working. From what I can understand , the calculations are as follows :

1. The calculation of gratuity is on the basis of days elapsed from the joining date in terms of either 15 days for every 365 days , or after the third year , 30 days for every 365 days.

2. The above calculation is rounded up in case we have a fractional number of days in the result.

If so , check the uploaded file now. I have listed out the steps in which the final answer is calculated so that you can verify that the calculations are correct.

Narayan

Dear Sir,

Thank you once again for providing the valuable inputs. Finally i could find a solution to my problem. I am uploading the file again with the formula in once cell. Hope this will be helpful for some one like me. Thanks & Regards, Sumesh