Can anyone tell me in termination: maintain calculation factor for retrial benefits:- FACTOR column value how we put there? is there any calculation make for that?
In this the calculation factor used to calculate the employee's retiral benefits such as superannuation or gratuity are mentioned. These benefits are paid according to the employee's duration of employment and the calculation factor is decided as per the company's policies.
For Ex: As per gratuity act, minimum years of service to be eligible for gratuity is 5Yrs, and the calculation is at 57.69% of the current basic, so you can maintain factor accordingly