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The wages here means wages last drawn by the employee. The "15 days' wages" will be calculated by dividing the last drawn wages by 26 and multiplying the result with 15. But under Section 4(3), the maximum gratuity that is payable is fixed at ₹20,00,000. Any gratuity amount paid in excess of ₹20,00,000 is taxable in the employee's hands. [4]
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. Tips and their amount are a matter of social custom and etiquette, and
The subprime mortgage crisis roiled the markets shortly after the Fed's August 7 meeting, causing the board to release a statement on August 10 saying that they were prepared to act in response to the downturn and had increased liquidity. In an unscheduled meeting on August 17 the Fed "temporarily" reduced the spread between the primary credit ...
Restaurant Servers. The appropriate tipping percentage for restaurant servers has changed drastically over the past decade. While it used to be appropriate to tip 10% to 15% to your server, today ...
In finance, maturity or maturity date is the date on which the final payment is due on a loan or other financial instrument, such as a bond or term deposit, at which point the principal (and all remaining interest) is due to be paid. [1] [2] [3] Most instruments have a fixed maturity date which is a specific date on which the instrument matures ...
To understand how it works, take a look at this mortgage interest deduction example: If you purchase a $400,000 home with a 20% down payment and take out a 30-year, fixed-rate loan with a 7% ...
Equity-based compensation – also known as share-based compensation, refers to a type of non-cash payment in which employees are granted ownership stakes in the company. Examples are stock options , restricted stock, stock appreciation rights (SARs), and employee stock purchase plans (ESPPs).
In finance, the expiration date of an option contract (represented by Greek letter tau, τ) is the last date on which the holder of the option may exercise it according to its terms. [1] In the case of options with "automatic exercise", the net value of the option is credited to the long and debited to the short position holders.