Skip to main content

Gratuity: Partial Payment of gratuity based on experience

Based on the employee experience, gratuity amount will be calculated as per the defined experience slab.

image

Ex: Lets say employee service period from 05-05-2015 to 12-11-2018, total days is 1287 = 3.5 yrs

Assume LOP days 200, so 1288-200= 1088 = 2.98 yrs.

Assume his 30days salary is 23000.

after lop days his experience is 2.98 falls under 3rd slab, for 21days salary.

=23000*21/30=16100. Gratuity = 16100*2.97=47947

this employee falls under 4th slab so 50% of the gratuity amount will be given.

As per the slabs, for after experience calculation criteria, gratuity amount is 47947.

if payment based on experience slab is selected, as per the experience the final gratuity amount will be 47947*50% = 23973/-

Labels:

Comments

  1. AnonymousMarch 14, 2019 at 6:01 AM

    After LOP days its mentioned that employee falls under 3rd slab. after gratuity calculation its mentioned above that employee falls under 4th slab. Please clarity my doubt how this slab gets changed.

    ReplyDelete

Post a Comment

Popular posts from this blog

TDS details in Payslip

TDS variables are added in the payslip to display the tax details for employees. These variables will give a clear idea to the employee of what is the taxable income, total tax per year to be deducted, tax deducted till date and the balance tax which he needs to pay. Follow the steps below. 1. Create the payroll components as mentioned below under Deductions. TDS_TotalTaxableIncome TDS_TotalTax TDS_PrevEmployerTDS TDS_TaxDeductedYTD TDS_BalanceTax 2. Go to deduction preferences, and add the TDS variable exactly with the same name under formula. Below is the screen shot for reference. 3. The values of TDS variables will be displayed in the payroll preview screen. The same will be displayed in the payslip, once these variables are mapped to the payslip. Note: 1. Priority Order: TDS variables should be placed after TDS component. Sample Payslip with TDS variable:
3 comments
Read more

Advance Leave Encashment

This option is for leave encashment for advance leaves. There are two scenarios here: 1. If payment type is selected as continuous in leave encashment screen, then the leave encashment salary will be credited through the payroll. 2. If payment type is selected as advance in leave encashment screen, then the leave encashment salary will not be credited through payroll but in the print layout, encash amount can be viewed. Settings>>Customization>>Leaves>>Leave Encashment>>Print layout Note: Employee Account and Salary Account should be mapped in the Employee master Follow the below steps for FA posting: 1. Create two account master fields in leave encashment screen as shown in the below screen. In the above two screens, two accounts are created. One is Company account in the first screen and Emp account in the second screen. Employee account is created to credit the encash amount and add these two fields in page layout of leave encashment. 2. Run below stored pro...
Post a Comment
Read more

Using Stored Procedure in the Earning/Deduction Formulas

Naming Convention : Stored Procedure Name : pPay_GetData1 Variable to use above stored procedure : fPay1 Advantages: we can assign multiple earning/deduction values using single stored procedure Eg : CREATE PROCEDURE pPay_GetData1 (      @xmlIn AS XML = NULL      ,@xmlOut AS XML = NULL OUT      ,@Result AS DECIMAL(18, 4) OUT      ) AS BEGIN      SET NOCOUNT ON;      SET @xmlOut = @xmlIn     DECLARE @EmpId AS VARCHAR(max),@PayrollRefType AS VARCHAR(100)      declare @ToDate as int=0     declare @BonusFromDate as int=0,@BonusToDate as int=0     --Retriving Employee Id      SELECT @EmpId = v.value('iEmpId[1]', 'varchar(max)')      FROM @xmlIn.nodes('/PayrollData') x(v)     --Retriving Payroll Date      SELECT @ToDate = v.value('...
Post a Comment
Read more