If an employee works for 7 years, 5 months, and 28 days, a gratuity should be paid for how many years? Should it be 7 years or 8 years? Is the gratuity amount rounded off to the second year? For example, if someone works from 3rd July 2017 and works until 31st December 2024, how many years should a gratuity be paid to him? Is it 7 years or 8 years?
From India, Mumbai
From India, Mumbai
It will be for 7 years because the employee has worked only for 5 months and 28 days in the 8th year. If the 8th year accounts for just one day more than six months, then the fraction of year will be rouned off to next year. Since it is less than six months, the fraction of year will be ignored.
From India, Kannur
4293From India, Kannur
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Employee Appraisal Form new.doc