Dear sir,
What is the formula to calculate Retrenchment Compensation under Section 25F of Industrial Disputes Act, 1947.
(OR)
Please check the following formula whether it is correct to calculate Retrenchment Compensation under Section 25F of the Industrial Disputes Act, 1947.
=[(Last gross salary / 26) x 15 x Number of years worked]
Here,
(i) shall we consider Last gross salary (or) Last Basic salary (or) Last Net salary
(ii) shall we consider 26 (or) 30 to divide the Last gross salary/Last Basic salary/Last Net salary
Please clarify
From India, Hyderabad
30What is the formula to calculate Retrenchment Compensation under Section 25F of Industrial Disputes Act, 1947.
(OR)
Please check the following formula whether it is correct to calculate Retrenchment Compensation under Section 25F of the Industrial Disputes Act, 1947.
=[(Last gross salary / 26) x 15 x Number of years worked]
Here,
(i) shall we consider Last gross salary (or) Last Basic salary (or) Last Net salary
(ii) shall we consider 26 (or) 30 to divide the Last gross salary/Last Basic salary/Last Net salary
Please clarify
From India, Hyderabad
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