May I know more Inoformation or link to any govt official site which speaks about Service Compensation and Gratuity payments are statutory payments which is as per the State Act?
As per my knowledge, cab you confirm the below info is correct and appropriate?
Employees who are in AP state will be paid Service compensation if their service is more than 1 year but less than 4 years and 10 months.
Employees whose service is more than 4 years 10 months, Gratuity act is enabled and not service compensation.
While service is calculated, its from date of joining to date of leaving and not the period you were at AP.
If and only if an employee's working base location is Andhra Pradesh and if the employee is quitting from Andhra Pradesh, employee will be eligible for service compensation.
Service Compensation calculation formula is given below:
Gross(except for the additional allowance) x 15/30 x number of years served.
what if there is no policy in my company?
As per my knowledge, cab you confirm the below info is correct and appropriate?
Employees who are in AP state will be paid Service compensation if their service is more than 1 year but less than 4 years and 10 months.
Employees whose service is more than 4 years 10 months, Gratuity act is enabled and not service compensation.
While service is calculated, its from date of joining to date of leaving and not the period you were at AP.
If and only if an employee's working base location is Andhra Pradesh and if the employee is quitting from Andhra Pradesh, employee will be eligible for service compensation.
Service Compensation calculation formula is given below:
Gross(except for the additional allowance) x 15/30 x number of years served.
what if there is no policy in my company?