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The Payment of Gratuity Act, 1972 is an Indian law that makes companies pay a one-time gratuity to retiring employees or employees who resigns after a minimum of 5 years of service. The law applies to all companies of at least 10 employees. [1] The gratuity is 15 days' wages for every year of employee service, or partial year over six months.
This average amount will be calculated dividing the lump sum by the service years with the current employer, and will be taxed as monthly salaries. For the number of service years with the current employer, the actual number of years should be considered. If the number of years is more than 12, only 12 will be considered. [citation needed]
Leaving some change on the restaurant table is one way of giving a gratuity to the restaurant staff. A gratuity (often called a tip) is a sum of money customarily given by a customer to certain service sector workers such as hospitality for the service they have performed, in addition to the basic price of the service.
Etiquette experts recommend giving housekeepers a $3 to $5 tip daily. If you’re traveling with young kids or pets, consider leaving a few extra dollars. Pet Care Providers
Some function as tax shelters (for example, flexible spending accounts, 401(k)'s, 403(b)'s). Fringe benefits are also thought of as the costs of keeping employees other than salary. These benefit rates are typically calculated using fixed percentages that vary depending on the employee’s classification and often change from year to year.
Calculate how much to tip based on original prices, even if your order has a discount. If you want to become the beloved regular at your bar, tip bartenders generously (50 percent).
If your after-tax income is $3,000 a month, for example, this is what you’d have for needs, wants and savings according to the 50/30/20 rule: 50% for needs — $1,500 (or $3,000 x 0.50) 30% for ...
Employees are entitled to one annual leave of twenty-four working days, with full pay, after 1 to 5 years of employment; twenty-one working days, after 5 to 10 years of employment; and thirty working days, after 10 or more years of employment or when they are over 50. Employees are also entitled to 13 paid public holidays. [28] 24 13 37 Taiwan