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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]
It is also the maximum amount of covered wages that are taken into account when average earnings are calculated in order to determine a worker's Social Security benefit. In 2020, the Social Security Wage Base was $137,700 and in 2021 was $142,800; the Social Security tax rate was 6.20% paid by the employee and 6.20% paid by the employer.
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
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 ...
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The limit applies to the total of payments taken as income withdrawal and short-term annuities [8] The new maximum amount of income that may be drawn is 150% (previously 120% pre 27/03/2014) of the single life annuity that a person of the same gender and age could purchase based on Government Actuary's Department rates. In other words, one's ...
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She is a co-author of a study published in 2024 that found unreliable pulse oximeter readings might limit the way Black patients with heart failure qualify for those potentially lifesaving procedures.