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Gratuity formula calculations format as per tentative details - xls download
This excel is for understanding the gratuity calculation which is a tentative calculation to find the amount for gratuity when person left from the organisation. or we say at the time of full and final settlement. formula : last drawn salary/2615no of yrs service. rules : 1 which consist of minimum 5 yrs service as per gratuity act 1972. and if person complete more than 6 month then its consists 1 year. 2 but the person who is minimum 4 yrs & 8 month service is consider as "0" zero years of gratuity service. 3 and if his is work for 4 yrs & 8 month and more but less than 5 yrs then also he is consider as 5 yrs of services for gratuity is applicable.
What is the formula for calculation of earned leave?
Dear seniors what is the formula for calculation of el s? basic / 26 x no.of el s if the above formula is correct pls provide any valid document from act stating the above formula is correct. regards
Overtime calculation - formula mentioned in factory act or minimum wage act?
Dear sir/madam i observed that most of organization calculate overtime with salary formula of /26/8 ot hrs 2. i want to know is this formula mentioned in factory act or minimum wage act or any other act of labour law? if yes than can i know this provision?
Calculation of ot
Dear senoirs can any of you help me on how to calculate ot of the employees. a present: we have a cards system where in the employees write their details of in & out timing with signature everyday and this is submitted to hr at the end of every month. based on this the extra hours worked are taken as ot. is there any better way of recording the ot ? can anyone help me with a better way or may be a simple solution to this.? regards fay
Overtime
Dear sir i have some query about the overtime. our office hours are start from 9.30 to 7.00 so whoever do duty after working hours that is considered as overtime. please find herewith ot calculation for your perusal. kindly check & let me know if there is any correction. also let me while calculation ot can we consider lunch time. beside that if there any rules for ot please advice me. an early reply will be highly appreciated thanks & regards sujata
Ot calcultion a particular situation
Ot calculation doubt that is one employee 4days duty done and one day dutyot8hr8hrdone next day taken leave in weekhe will get ot amount 7hrs/8hrs/0hrs please tell