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Gratuity – Form F

Gratuity – Form F

Gratuity is applicable only to those business/organization having more than ten employees. Gratuity from F is required during the joining date of the employee. It is one of the important document required to be filled for every organization. It is the retirement benefit given to an employee who has to complete 5 years of service in an organization under Gratuity Act 1972.

Gratuity is calculated as below: Number of years served in the company * (Last basic salary + DA) * 15 / 26. If an employee leaves the job after completing 5.8 years of service, the gratuity is calculated on the basis of 6 years. On the other side, if an employee leaves the job after completing 5.3 years of service, the gratuity is calculated on the basis of 5 years.

While filling form F, you need to consider details such as organization/business name with full address, the name of the employee, name of the nominee with address, relationship with an employee, the age of nominee and the proportion by which the gratuity will be shared.