Curious About HR Policies and Gratuity? Let's Break It Down Together

Hi All, I hope everyone is doing well. I want to know a brief about HR policies. Can anyone please suggest or explain HR policies briefly? Also, I want to know what gratuity is.

Regards,
Jaysri

HR Policy: A policy is a formal statement of a principle or rule that members of an organization must follow. Each policy addresses an issue important to the organization's mission or operations. Policies are written as statements or rules. Organizations commonly have written policies in the following areas:

• Code of Conduct
• Confidentiality
• Conflict of Interest
• Working Conditions
• Attendance
• Hours of Operations
• Termination (Voluntary and Involuntary)
• Recruitment
• Compensation
• Performance Management
• Learning and Development
• Overtime
• Dress Code
• Leave Policy
• Grievance/Conflict Resolution
• Formal Complaint Process
• Guest House
• Discrimination and Harassment/Respectful Workplace
• Whistle Blower
• Use of Company Equipment, etc.

Gratuity: Gratuity is a part of the salary that is received by an employee from his/her employer in gratitude for the services offered by the employee in the company.

Calculated as (Basic + D.A) x 15 / 26 or 30 x No. of years in service*

Regards,
Narayan

You really need to appreciate Mr. Narayan for the quick posting. However, following up with the posting, I need to quickly fill up something that was omitted from his side.

Gratuity Eligibility

To earn gratuity, any employee should have completed five years of continuous service in a company. Follow this link for the Gratuity Act 1972: http://indiacode.nic.in/fullact1.asp?tfnm=197239

Gratuity Calculation

Gratuity is a certain sum of money that is received by an employee, and the last drawn salary is used for calculating the money payable as per the formula: Calculated as (Basic + D.A) x 15 / 26 or 30 x No. of years in service (above 5 years).

Appreciating all of the above, I would like to add that the benefits of PF, ESI, Pension, etc., and other related social support schemes provided by the employer should be clearly mentioned in HR policies.