Key Points
Gratuity refers to the amount that an employer pays his employee, in return for services offered by him to the company..
However, only those employees who have been employed by the company for five years or more are given the gratuity amount.TOI-Online.
A gratuity calculator is a tool that gives you an estimate of the amount that you would receive, on quitting the job, after rendering a continuous five years of service...
Government EmployeeThe amount of gratuity received by any government employee (whether central/state/local authority) is exempt from the income tax...
The organisation that owes gratuity will compute the amount as soon as the application is received and will also send a notice of the same to the person and the governing authority with the amount stated...
