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  • Calculation

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    Settlement

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    Settlement

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    5 views1 page

    Calculation

    Uploaded by

    badhusha
    Settlement

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    1.

    Basic salary ÷ 30 = Daily wage

    2. Daily wage x 21 = 1 year gratuity figure (Or x30 if applicable)

    3. 1 year gratuity figure x years of service = Total gratuity owed

    Only continue for Unlimited Contract calculation

    4. Total gratuity owed ÷ 3 = One third (1/3) of total gratuity

    5. Either take this figure (between 1 and 3 years) or multiply it by two (between 3 and 5 y

    6. For over 5 years, total gratuity owed will be payable.

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