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Or the customer says how much he will pay in total, including the tip: thus if the basic price is €10.50, the customer might, rather generously but not unusually, say zwölf ("twelve"), pay with a €20 note and get €8 in change. When paying a small amount, it is common to round up to the nearest euro (e.g. €1.80 to €2.00).
Mandatory tipping (also known as a mandatory gratuity or an autograt) is a tip which is added automatically to the customer's bill, without the customer determining the amount or being asked. It may be implemented in several ways, such as applying a fixed percentage to all customer's bills, or to large groups, or on a customer-by-customer basis ...
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]
The portion paid by employees is deducted from their gross pay before federal and state taxes are applied. Some benefits would still be subject to the Federal Insurance Contributions Act tax (FICA), such as 401(k) [ 12 ] and 403(b) contributions; however, health premiums, some life premiums, and contributions to flexible spending accounts are ...
A traditional form of a defined benefit plan is the final salary plan, under which the pension paid is equal to the number of years worked, multiplied by the member's salary at retirement, multiplied by a factor known as the accrual rate. [9] The final accrued amount is available as a monthly pension or a lump sum.
For households and individuals, gross income is the sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings, before any deductions or taxes. It is opposed to net income, defined as the gross income minus taxes and other deductions (e.g., mandatory pension contributions).
Ex gratia (/ ˌ ɛ k s ˈ ɡ r eɪ ʃ (i) ə /; [1] also spelled ex-gratia) is Latin for "by favour", and is most often used in a legal context. When something has been done ex gratia, it has been done voluntarily, out of kindness or grace.
The amount to be paid will normally cover all salaries that would have been earned during the notice period. That will normally cover basic pay and may include other things like commission and compensation for the loss of benefits, like personal use of a company car, phone, or medical insurance. The employer might instead decide to give the use ...