Resp. All,
You are requested to kindly put some light on Retrenchment Compensation.
I want to know that, lets say if an employee has completed 1 year and 7 months, then for how many days his Retrenchment Compensation will be calculated?
And what about, if an employee has completed 1 year and 5 months?
One more thing, Retrenchment Compensation is calculated on Basic Salary or Gross Salary..??
Plz. give your guidance.
From India, Delhi
162You are requested to kindly put some light on Retrenchment Compensation.
I want to know that, lets say if an employee has completed 1 year and 7 months, then for how many days his Retrenchment Compensation will be calculated?
And what about, if an employee has completed 1 year and 5 months?
One more thing, Retrenchment Compensation is calculated on Basic Salary or Gross Salary..??
Plz. give your guidance.
From India, Delhi
hi
bcarya
the retrenchment compensation will be as per the ID act 1974 1.6years + will be taken as 2years and blow -1.6 years as as one year.the compensation will be on basic+ da.of the gross salary
regds
From India, Hyderabad
bcarya
the retrenchment compensation will be as per the ID act 1974 1.6years + will be taken as 2years and blow -1.6 years as as one year.the compensation will be on basic+ da.of the gross salary
regds
From India, Hyderabad
Thanks for your response sir.
Can you please provide any document regarding this BASIC + DA for calculation?
I am asking this because, somewhere I studied that it is calculated on Average Wages, where Average Wages means the average of wages payable to a workman in three complete calender months. Kindly give some reference.
From India, Delhi
Can you please provide any document regarding this BASIC + DA for calculation?
I am asking this because, somewhere I studied that it is calculated on Average Wages, where Average Wages means the average of wages payable to a workman in three complete calender months. Kindly give some reference.
From India, Delhi
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Workmen Compensation Calculation.xls