Hi,
1. Is service seniority allowance (1% and a maximum ceiling of 10% for employees who have completed 10 years of service) required to be paid monthly along with the salary or annually?
2. What about employees who have completed over 20 years of service?
Thank you.
From India, Bengaluru
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1. Is service seniority allowance (1% and a maximum ceiling of 10% for employees who have completed 10 years of service) required to be paid monthly along with the salary or annually?
2. What about employees who have completed over 20 years of service?
Thank you.
From India, Bengaluru
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Hi Masifhe, Below mentioned is my views, 1. You need to pay monthly. 2. Those who have completed 20 years o service will get one time max 10% of increase in Basic
From India, Bengaluru
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132From India, Bengaluru
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Hi Sir, Here is the corrected version of your message:
1. An employee who has completed 15 years and whose revised basic pay is Rs. 16,000 (rounded for calculation) will receive a monthly amount of ((16,000*1/100)*15) = Rs. 2,400. Or, if the new basic is Rs. 16,000 and the old basic was Rs. 14,000, the monthly increase would be ((16,000 - 14,000) * 1/100) * 15 = Rs. 300.
2. For an employee who has completed 21 years:
a) If the employee already has a basic pay of Rs. 25,000 with no increase, the calculation remains the same.
b) If the revised basic pay changes from Rs. 14,000 to Rs. 16,000, the increase is Rs. 2,000. The calculation for one year would be ((2,000 * 1/100) * 21) = Rs. 420.
Please let me know if you need further clarification.
Regards, Muhammed Asif
I have corrected the spelling, grammar, and punctuation errors in your message while maintaining the original meaning and tone.
From India, Bengaluru
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1. An employee who has completed 15 years and whose revised basic pay is Rs. 16,000 (rounded for calculation) will receive a monthly amount of ((16,000*1/100)*15) = Rs. 2,400. Or, if the new basic is Rs. 16,000 and the old basic was Rs. 14,000, the monthly increase would be ((16,000 - 14,000) * 1/100) * 15 = Rs. 300.
2. For an employee who has completed 21 years:
a) If the employee already has a basic pay of Rs. 25,000 with no increase, the calculation remains the same.
b) If the revised basic pay changes from Rs. 14,000 to Rs. 16,000, the increase is Rs. 2,000. The calculation for one year would be ((2,000 * 1/100) * 21) = Rs. 420.
Please let me know if you need further clarification.
Regards, Muhammed Asif
I have corrected the spelling, grammar, and punctuation errors in your message while maintaining the original meaning and tone.
From India, Bengaluru
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