Gratuity is a lump sum payment made by an employer to an employee as a token of appreciation for their services. The gratuity amount is calculated using the following formula: Gratuity = Last drawn salary x (15/26) x Number of years of service Here are some things to keep in mind when calculating gratuity: The last drawn salary should include the basic salary, dearness allowance, and...
The Equated Monthly Installment (EMI) of a home loan can be calculated using the formula: EMI = P * r * (1 + r)^n / ((1 + r)^n – 1) Where: P: is the principal loan amount r: is the monthly interest rate (annual rate divided by 12) n: is the loan tenure in months You can also use a home loan EMI calculator to calculate the EMI amount. To use a calculator, you’ll need to provide...
To calculate leave salary, you can use the formula: Leave encashment: [(Average Basic salary + Average Dearness Allowance) / 30] No. of Earned Leaves Here’s what the variables in the formula mean: Average Basic salary: The average monthly basic salary Average Dearness Allowance: The average monthly dearness allowance (DA) No. of Earned Leaves: The total number of leaves accumulated The...
To calculate a mortgage loan, you can use a formula to calculate the principal and interest, and then add in other costs like taxes and insurance: Mortgage Calculator – Free House Payment Estimate – ZillowMortgage payment equation … The traditional monthly mortgage payment calculation includes: Principal: The amount of money you bo…Zillow How To Calculate Your...