No Tags Found!

nitinrd17
Dear Friends,
I have a query..... While calculating PL encashment in FFS of a staff cadre, What we have to consider 26 days month or 30 days month?
Similarly while calculating Gratuity , should we consider 26days month or 30 days month?
What is the legal binding?
Please explain.
Nitin..........

From India, Kolhapur
mani_pooja
71

Hi,
Leave encashments is calculated on Earned/Paid Leave only.

Method of Calculation:Basic Salary per month / 26 * Nos of Earned Leaves left
Similarly while calculating Gratuity ,we should consider 26 days a month.
To Calculate Gratuity
Basic Pay + DA *15/26* no. of years
You can also use the link below for calculation of gratuity.
Calculate Gratuity
Note:Gratuity is payable to any employee only he serves for a minimum period of 5 years at a stretch with his employer. The amount of Gratuity is calculated as per the last average salary drawn/last drawn monthly salary as on date is taken into account and the number of years served by an employee.


Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.