/26 x Gratuity Service x Gratuity Wage subject to maximum of [Rs. 10,00,000/-] [Substituted 'Rs. 50,000/-' by Assam Act No. 32 of 2017, dated 19.7.2017.] and minimum of Rs. 1,000/- as Gratuity.[Explanation:- For every completed year of service or part thereof in excess of six months, gratuity shall be payable at the rate of fifteen days wages based on the rate of wages last drawn by the employee concerned.In case of piece rated employee daily wages shall be computed on the average of the total wages received by him for a period of three months immediately preceding the termination of his employment and in case of a monthly rated employee, the fifteen days wages shall be calculated by dividing the monthly rate of wages last drawn by him by twenty six and multiplying the quotient by fifteen.] [Inserted by Assam Act No. 32 of 2017, dated 19.7.2017.]
