Dear All, can you please elaborate on the norms of full and final settlement, wheteher calculation should be on basic or on gross?
From India, undefined
From India, undefined
Hi Yamini, If you concern is regarding the final salary settlement and other payments then it is on the gross salary. However leave encashment and gratuity would be on the basic salary.
From India, Bangalore
477From India, Bangalore
I do not think the practice of giving leave encashment on basic is right.
Most of the shop and establishment acts and the factory act require compulsory encashment of leave pending at the time of termination of employment and it also specifies that this will be paid on "normal wages" which means gross wages
From India, Mumbai
Most of the shop and establishment acts and the factory act require compulsory encashment of leave pending at the time of termination of employment and it also specifies that this will be paid on "normal wages" which means gross wages
From India, Mumbai
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Full n final settlement.doc