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In India, gratuity is a type of retirement benefit. It is a payment made with the intent of monetarily helping an employee after his or her retirement. It was held by the Supreme Court of India in Indian Hume Pipe Co Ltd v Its Workmen that the general principle underlying a gratuity scheme is that by service over a long period the employee is entitled to claim a certain amount as a retirement ...
The Sixth Central Pay Commission created twenty distinct ranks (pay grades) in the Government hierarchy. It was intended that an employee's status [4]: p 1–2 and seniority of post would be determined. [2]: para 2.2.11 The pay grades were intended to make "pay scales ... irrelevant for purposes of computing seniority".
The Payment of Gratuity Act 1972 applies to establishments with 10 or more workers. Gratuity is payable to the employee if he or she resigns or retires. The Indian government mandates that this payment be at the rate of 15 days salary of the employee for each completed year of service subject to a maximum of ₹ 2000000. [24]
The first pay commission was established in January 1946 and it submitted its report in May, 1947 to the interim government of India. [1] It was under the chairmanship of Srinivasa Varadachariar. [3] The mandate of 1st (nine members) was to examine and recommend emolument structure of Civilian employees.
Or the customer says how much he will pay in total, including the tip: thus if the basic price is €10.50, the customer might, rather generously but not unusually, say zwölf ("twelve"), pay with a €20 note and get €8 in change. When paying a small amount, it is common to round up to the nearest euro (e.g. €1.80 to €2.00).
1. The Blow Dryer and Round Brush Combo. First, apply volumizing mousse on your wet hair to hold your style. According to Iudina, you’ll want to blow dry your hair into small sections using a ...
Average CEO Pay is calculated using the last year a director sat on the board of each company. Stock returns do not include dividends. All directors refers to people who sat on the board of at least one Fortune 100 company between 2008 and 2012. The Pay Pals project relies on financial research conducted by the Center for Economic Policy and ...
The contributory pension system was notified by the Government of India on 22 December 2003 to the National Pension System (NPS) with effect from 1 January 2004. The NPS was subsequently extended to all citizens of the country with effect from 1 May 2009 including self employed professionals and others in the unorganized sector on a voluntary ...