Exact compensation amount
Querist :
Anonymous
(Querist) 16 February 2011
This query is : Resolved
I have a 20 years of service left in a pvt ltd company, and already worked as a clerk for 13 years, and at present my salary is 8000.00 per month.What will be the total compensation amount if my company dis continue my service?
Kirti Kar Tripathi
(Expert) 16 February 2011
If your services are discontinued without any reason or by way of retrenchment you are entailed for following amount as terminal dues
1. Notice pay amounting to one month salary.
2.Retrenchment compensation at the rate of 15 days salary for every completed year and part if exceeds more then 6 months.
3. Gratuity calculated last pay drawn multiply by 15 days multiply by nos. of years divided by 26
4. Minimum Bonus at the rate 8.33% equivalent to one month salary.
5. leave encasement as per factory Act or shop and commercial Act, whichever is applicable
Apart from you are entitled for your salary and other due amount, if any under your service condition
Provident fund has nothing to do with compensation, it is your right.
