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The Payment of Gratuity Act, 1972 is an Indian law that makes companies pay a one-time gratuity to retiring employees or employees who resigns after a minimum of 5 years of service. The law applies to all companies of at least 10 employees. [1] The gratuity is 15 days' wages for every year of employee service, or partial year over six months.
This average amount will be calculated dividing the lump sum by the service years with the current employer, and will be taxed as monthly salaries. For the number of service years with the current employer, the actual number of years should be considered. If the number of years is more than 12, only 12 will be considered. [citation needed]
A gratuity (often called a tip) is a sum of money customarily given by a customer to certain service sector workers such as hospitality for the service they have performed, in addition to the basic price of the service.
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A Florida woman who allegedly snatched a three-year-old boy from his fenced-in yard and ran off down the street last week told the cops she shouldn’t be arrested because she “gave it back ...
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An "Add a tip" screen after paying for a US$3.85 coffee, with suggested gratuity amounts of $1 (26%), $2 (51.9%), and $3 (77.9%) Tipflation and tip creep are terms to describe the United States' recent widespread expansion of gratuity to more industries, as opposed to being traditionally only prevalent in full-service restaurants.