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Number of years in org * last drawn monthly basic salary (check payslip) * (15/30)
Incorrect.
Firstly, you're eligible after 4 yrs and 190 days.
And second, the formula is 15/26 instead of 15/30 in the monthly salary.
Or 240/265 with yearly salary. Round the years to next integer if worked more than 240 days.
Fancy 15/30 which is 1/2
Its actually 15/26 but in some cases its 15/30
If I quit in July, then my gratuity will be calculated based on June salary without hike?
Yes, last drawn monthly salary basic component * 15/26 * no of years of service in the company
Is special allowance included in the gratuity calculation?
No