Dear Madhu Jee,
The new employee will get the insurance benefit of 35 times of average salary as you rightly mentioned in para 2. However, the bonus amount will be 50% of his average balance or Rs.1,75,000 whichever is the least.
Regards,
Suresh
The new employee will get the insurance benefit of 35 times of average salary as you rightly mentioned in para 2. However, the bonus amount will be 50% of his average balance or Rs.1,75,000 whichever is the least.
Regards,
Suresh