Dear, I am working in a manufacturing Co. there is Factory 1952 act apply, So I would like to know the process when Labour leaves the job in that case what kind of formalities I have to do for his full & Final Settlement.
From India, Bagpat
Dear Jyoti,
I think that your query relates to settlement of final dues to certain employees who resigned on their own with the formal acceptance of the management.
The following are the terminal benefits to be paid:
1) Salary for the Earned Leave at the credit of the employee. It should be calculated proportionately on the basis of the monthly gross salary.
2) Gratuity under the PGA, 1972 @ 15 days last drawn salary (total of basic pay + D.A only) for every completed year of service in respect of those who had completed a minimum service of 4 years and 8 months.
3) Proportionate bonus for the period worked in the accounting year.

From India, Salem

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.

Please Login To Add Reply →






About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2021 CiteHRô

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server