1. Asked: 3 years agoIn: , ,

    How Monthly salary to be calculated by 26 Days or 30 Days?

    Lokender Rawat
    Lokender Rawat

    Calculation of salary on 26 days is also legal as well as 30 or 31 days. In earlier case the weekly offs are not counted hence whether a person is absent for a week or more his weekly off are not taken into account while calculating salary. for example in case of calculation by 26 days, if an employRead more

    Calculation of salary on 26 days is also legal as well as 30 or 31 days. In earlier case the weekly offs are not counted hence whether a person is absent for a week or more his weekly off are not taken into account while calculating salary. for example in case of calculation by 26 days, if an employee takes leave for six working days excluding weekly off then salary calculation will be = salary/26*20 days. In 30 or 31 days calculation case if a person is absent for more than half of working days of the week or on saturday and monday both days then he forfeits his weekly off and weekly off is also taken as absent and his salary calculated accordingly.

    For example a person is absent on saturday and monday both days then his total absence is 3 days which include sunday (Weekly off) also. It depends upon company to company which rules they follow. i.e. more than half of working days in a week or saturday and monday.

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  2. Asked: 3 years agoIn: , , ,

    What are gratuity eligibilty criteria?

    Lokender Rawat
    Lokender Rawat

    Any person working in a company, factory, Port, plantation, or any other establishment, where ten or more persons were employed on any day during the preceding twelve months, are entitled if they have rendered continuous services for a minimum of five years with the same employer Following are the fRead more

    Any person working in a company, factory, Port, plantation, or any other establishment, where ten or more persons were employed on any day during the preceding twelve months, are entitled if they have rendered continuous services for a minimum of five years with the same employer

    Following are the few instances when you will be eligible to receive gratuity.

    1. An employee should be eligible for superannuation
    2. An employee retires
    3. An employee resigns after working for 5 years with a single employer
    4. An employee passes away or suffers disability due to illness or accident

    How to Calculate Gratuity?

    Listed below are the components that go into the calculation of the gratuity amount. The amount is also dependent upon the number of years served in the company and the last drawn salary.

    Gratuity = N*B*15/26

    N = number of years of service in a company

    B = last drawn basic salary plus DA

    For example, if Rajesh has worked with a company for 20 years and had Rs.25,000 as his last drawn basic plus DA amount, then this will be..

    Gratuity Amount for Rajesh = 20*25,000*15/26 = Rs.2,88,461.54

    However, an employer can choose to pay more gratuity to an employee. Also, for the number of months in the last year of employment, anything above 6 months is rounded off to the next number while anything below 6 months in the last year of employment is rounded off to the previous lower number.

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