Dear Sir, Kindly tell me that in Gratuity Calculation how many days are considered for 1 service year for daily rated (wage) worker. Regards. Kausik
From India, Siliguri
2From India, Siliguri
Dear Kaushik
Gratuity is paid for Good Gratitude.
Gratuity is a benefit provided to any employee completing 5 years of continuous services which cannot be amounted/ adjusted to the employee against any dues.
1. If an employee has completed 5 years continuous service in an establishment, he is eligible for Gratuity.
2. Entitlement-15 day's salary for each completed years of service or part thereof.
2. Salary = Basic Salary+D.A.
3. As per payment of Gratuity Act, 1972, the amount of gratuity should be calculated as follows:
Formula: Salary x No.of completed years of servicex15/26
This is concepts of Gratuity .
From India, Gurgaon
Gratuity is paid for Good Gratitude.
Gratuity is a benefit provided to any employee completing 5 years of continuous services which cannot be amounted/ adjusted to the employee against any dues.
1. If an employee has completed 5 years continuous service in an establishment, he is eligible for Gratuity.
2. Entitlement-15 day's salary for each completed years of service or part thereof.
2. Salary = Basic Salary+D.A.
3. As per payment of Gratuity Act, 1972, the amount of gratuity should be calculated as follows:
Formula: Salary x No.of completed years of servicex15/26
This is concepts of Gratuity .
From India, Gurgaon
My question is for dailyrated workers how many workingdays in a particular year consider as year of service ?
From India, Siliguri
From India, Siliguri
If daily rated employee has completed 5 years of continuous service in the facility or in the case of death then he is eligible for Gratuity irrespective whether he is monthly paid or daily paid.
For daily paid employees gratuity can be calculated as follows:
Gratuity = (Daily rate of wages x 15 days) x No. of years worked in the entity
For a daily-rated employee, his hourly basic rate of pay is computed as follows:
Daily Pay at the Basic Rate
-------------------------------------------
Working Hours Per Day
Hope this will solve your query.
From India, Gurgaon
For daily paid employees gratuity can be calculated as follows:
Gratuity = (Daily rate of wages x 15 days) x No. of years worked in the entity
For a daily-rated employee, his hourly basic rate of pay is computed as follows:
Daily Pay at the Basic Rate
-------------------------------------------
Working Hours Per Day
Hope this will solve your query.
From India, Gurgaon
For a daily rated employee, 240 days of working days will constitute one year of service. This 240 days is inclusive of any holiday payment given to the employee. Regards, Madhu.T.K
From India, Kannur
From India, Kannur
This 240 days is inclusive of all admissible leaves taken by the employee. That means all PAID LEAVES and ESI leaves should be included in the days worked. If actual physical working days is 220 but there were some 5 days of ESI leave due to some accidents and 15 days of other sick and Casual leave, then also he is said to have continuous service for the purpose of gratuity.
Madhu.T.K
From India, Kannur
Madhu.T.K
From India, Kannur
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