While computing gratuity (covered under payment of gratuity act)
under exemptions u/s 10(10)
15/26 means what?
6 Replies
Priyanka M. Solanki.
(CA Final Student)
(115 Points)
Replied 11 December 2007
15/26 means the gratuity r to be computed
merely for the "working days" which r 26 days
Vk Duggal
(320 Points)
Replied 11 December 2007
AMOUNT OF GRATUITY IS WORKED BY TAKING THE NUMBER OF DAYS OVER 26 DAYS FOR MONTHLY PAY. IN OTHER WORDS MONTHLY SALARY IS CONSIDERED AS PAID FOR 26 DAYS INSTEAD OF 30/31 DAYS AS THE CASE MAY BE.
Amit Sharma
(article)
(2677 Points)
Replied 19 December 2007
15 days of basic salary is given as per Gratuity Act
26 days are the no of working days.
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