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Which of the following formulae is taken for calculating the gratuity for an employees under the Payment of Gratuity Act, 1972?

Which of the following formulae is taken for calculating the gratuity for an employees under the Payment of Gratuity Act, 1972? Correct Answer Monthly rate of wages last drawn × 15 × number of years worked ÷ 26

Related Questions

What is the total number of employees in the company? Which of the following option is sufficient alone to find the answer? A) In the company, employees like either tea or coffee or cold drink. Out of the total employees, 25% like tea and 40% like coffee. Out of remaining employees, 20% like cold drink and remaining employees don’t like any of these drinks. B) Out of total employees 18% working in the marketing departments, 35% working in IT departments. From the remaining employees 25% working in HR departments and 45% working in content departments and remaining 141 are working in other departments. C) Employees working in the company is form state X, Y and Z. 20% of employees working in the company is from state X and from remaining 60% employees is from state Z and the remaining employees is from the state Y. D) 60% of the employees in the company are married and remaining employees are unmarried. The ratio of male and female unmarried employees is 4 : 5 and ratio of married male and female employees is 3 : 4.
Which of the following statements are true/false?
1. Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than five years.
2. Each employee, who has completed one year of service, shall make nomination for the purpose of receiving gratuity.
3. For every completed year of service in excess of six months, the employer shall pay gratuity to an employee at the rate of fifteen day's wages based on the rate of wages last drawn by the employee concerned.
4. An employer who contravenes, or makes default in complying with, any of the provisions of the Payment of Gratuity Act shall be punishable with imprisonment for a term which may extend to one year, or with fine which may extend to twenty thousand rupees, or with both.
Consider the following statements and identify which of the following are true? While calculating GDP, income generated by foreigners in a country is taken into consideration While calculating GDP, income generated by nationals of a country outside the country is taken into account While calculating GNP, income generated by foreigners in a country is taken into consideration While calculating GNP, income generated by nationals of a country outside the country is taken into account
Under the provisions of the Payment of Gratuity Act, 1972, employees working in a seasonal establishment and who have not been employed throughout the year, the employers shall be paid gratuity at the rate of
The break-up (degree wise) of the total number of employees of a company working in five offices, A, B, C, D and E, in a city, in 2020 is shown in the following pie graph. Total Number of Employees = 3400 The ratio of the number of male and female employees working in office A is 5 ∶ 6 and 50% of the employees in office E are females. Let a be the ratio of the number of male employees in A to that of the female employees in E and b be the ratio of the number of male employees in E to that of the female employees in A. What is the ratio a ∶ b?
The ratio of temporary employees and Permanent employees in test book is 8 ∶ 3.The ratio of male employees to female employees is 7 ∶ 4.It is also observed that 60% of the temporary employees are males. If there are 48 permanent female employees, what is the difference between male temporary employees and female permanent employees. 
An employee retires from a factory after putting in 28 (twenty eight) years of service. The last wages drawn by him per month before retirement was Rs. 39,000. What is the amount of gratuity to be paid by his employer under the Payment of Gratuity Act, 1972?
A worker retires from a factory after putting in twenty years of continuous service. His last monthly wages drawn was Rs. 45,500. What is the amount of gratuity the worker is entitled to under the payment of Gratuity Act, 1972.
For a person employed in a seasonal establishment, what is the rate of gratuity payable under the Payment of Gratuity Act, 1972?
Following table shows total number of Employees of XYZ Ltd. in 5 different Cities [A, B, C, D and E] and ratio of number of employees working in HR, Accounts and Production departments respectively. City Total Employees HR : Accounts : Production A 240 1 : 2 : 3 B 450 7 : 1 : 1 C 360 5 : 4 : 3 D 180 2 : 5 : 3 E 330 6 : 4 : 1   Note: Employees works in only the above given departments in the each city. Find the total number of employees of accounts department in city E, employees of accounts department in city A and employees of production department in city B?