How gratuity is calculated according to KENYAN laws?  

How gratuity is calculated?

based on the number of years the employee has stayed in the company....monthsalary-divided by 26 into15 in to number year in service...he gratuity willl be calculated according to the formula:GratuityGratuity is mostly calculated on the basis of last salary drawn.At the rate of 15 days salary for every year of service put in.For example if a person had put in 20 years service and his last drawn

How gratuity is calculated according to KENYAN laws?

Hi Samira, Gratuity is a lump sum amount that an employer pays the employee on contract when he retires or resigns from the organization. An employee does not contribute any portion of his salary towards this amount. The rationale for gratuity is to encourage employees to offer longer service to the employer and to ease the termination of contract of employment by offering the sum of gratuity

what are the list of tax free income instrument?

the gratuity is paid or 20 months salary as calculated. Thus, the least of these items is exempt from income tax under Section 1010. 6. Commutation of pensionThe entire amount of any payment in commutation partnership firm4. Allowance for foreign service5. Gratuities6. Commutation of pension7. Leave salary of central government employees8. Voluntary retirement or separation payment9. Life insurance receipts10

central Govt. officer. Taking Volantary retirement now. Basic 17700.If my gratuity will be calculated based on 6th pay commission effective dates say 1.1.06

If you get voluntary retirement it is okay and you will get pension and gratuity in accordance with the present pay and emoluments, your pension and gratuity will later be revised as per 6th

What is meaning of word " Computer"?

.An expert at calculation and computation.It is a general-purpose machine that processes data. The data is processed according to a set of instructions known as programs. The computer and all equipmenthello gupta A computer is a machine that manipulates data according to a list of instructions.The first devices that resemble modern computers date to the mid-20th century around 1940 - 1945

Salient features of Payment of Gratuity Act, 1972?

August, 1971 as also the Indian Labour Conference held on 22 and23 October 1971 and general consensus was reached for enacting a Central Legislation on paymentof gratuity. Accordingly, a Central LawBackground1. Before the enactment of the Payment of Gratuity Act, 1972, there were two State Lawsproviding for payment of gratuity. These were the Kerala Industrial Employees Payment ofGratuity Act

What are Super Computers?

well blogger01, blogger A supercomputer is a computer that is considered at the time of its introduction to be at the frontline in terms of processing capacity, particularly speed of calculation"....well blogger A supercomputer is a computer that is considered at the time of its introduction to be at the frontline in terms of processing capacity, particularly speed of calculation. The term "

What are java beans?

well, From a users point-of-view, a component can be a button that you interact with or a small calculating program that gets initiated when you press the button. From a developers point-of-view, the button component and the calculator component are created separately and can then be used together or in different combinations with other components in different applications or situations

How is gratuity taxed according to the taxation laws of Kenya.?

Hi,Gratuity can be received by the employee at the time of his retirement or by his legal heir in the event of death of the employee. Gratuity received by an employee on his retirement is taxable under the head "Salary" and gratuity received by the legal heir is taxable under the head" Income from Other Sources". For more details please refer to the links

How gratuity is calculated?

How gratuity is calculated according to KENYAN laws?

what are the list of tax free income instrument?

central Govt. officer. Taking Volantary retirement now. Basic 17700.If my gratuity will be calculated based on 6th pay commission effective dates say 1.1.06

What is meaning of word " Computer"?

Salient features of Payment of Gratuity Act, 1972?

What are Super Computers?

What are java beans?

How is gratuity taxed according to the taxation laws of Kenya.?