Gratuity Need Help Of Seniors.

joshikishord@yahoo.co.in
Hi friends,
I am having some deficulties in interpretation of clause "Continuous service" & "apllicability of gratuity", suppose one of the employee has joinned on 01/11/2003 and resigned on 30/11/2008 means after 5 years of service, here I wish to draw your kind attention, what happen if the employees remained absent in this 5 years with some intervals, which causes non complition of one year continuous service[ every year he has not complited 240 days of actual working]. Should I pay him gratuity or he is not entitle for gratuity? even if he was on our muster roll for the period more than 5 years. please help me.
Kishor
joshikishord@yahoo.co.in
Hi Sowmya,
Your Max Newyork Life is insurance company, so you might be know how to calculate the actuarial valuation. Please send me the method to calaculate the actuarial valuation.
Thanks & Regards
Kishor
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