Hi Twinkle,
The Gratuity amount is calculated in two cases.
1) If the person is covered under the Payment of Gratuity Act 1971.
2) If the person is not covered under the Payment of Gratuity Act 1971.
In First Case the calculation of Gratuity amount shall be-
Last Drawn Salary (Basic + DA) * 15/26*No of years worked.
For computation of gratuity, your service period will be rounded off to the nearest full year.
For second case even I also have a doubt and would request the seniors to elaborate it.
Regards
Smita Patra
From India, Madras
The Gratuity amount is calculated in two cases.
1) If the person is covered under the Payment of Gratuity Act 1971.
2) If the person is not covered under the Payment of Gratuity Act 1971.
In First Case the calculation of Gratuity amount shall be-
Last Drawn Salary (Basic + DA) * 15/26*No of years worked.
For computation of gratuity, your service period will be rounded off to the nearest full year.
For second case even I also have a doubt and would request the seniors to elaborate it.
Regards
Smita Patra
From India, Madras
Dear Sir,
If there is no deduction from employer side .so can we show nil deduction in salary slip,As my company is manufacturing industry having 50 employee's( worker and staff ) both.And if possible send me the format for the salary slip having no deduction.
Regards
Yahvi
From India, Delhi
If there is no deduction from employer side .so can we show nil deduction in salary slip,As my company is manufacturing industry having 50 employee's( worker and staff ) both.And if possible send me the format for the salary slip having no deduction.
Regards
Yahvi
From India, Delhi
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Other components of Manual.zip
Components of Basic Wages.pdf
SALARY CAN BE SPLIT INTO COMPONENTS BUT NOT LESS THAN THE MINIMUM WAGES.docx