Article On End Of Service Gratuity
#1
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Article On End Of Service Gratuity
http://www.khaleejtimes.com/displaya...on=theuae&col=
"As per article 114/2, an expatriate employee is entitled to a gratuity upon the end of service as follows: an amount equivalent to one month basic salary against every year of the first five, one and a half month basic salary against every year of the next five (6-10) and two month basic salary against every of the years (11+) to follow."
Calculations seem different than what I thought and have read on here, has there been a change in the system, or is it ace reporting from Khaleej Times?
"As per article 114/2, an expatriate employee is entitled to a gratuity upon the end of service as follows: an amount equivalent to one month basic salary against every year of the first five, one and a half month basic salary against every year of the next five (6-10) and two month basic salary against every of the years (11+) to follow."
Calculations seem different than what I thought and have read on here, has there been a change in the system, or is it ace reporting from Khaleej Times?
#3
Re: Article On End Of Service Gratuity
Unless it's changed in the last 2 months then that article is rubbish...
My understanding is:
Workout out your daily salary by dividing your yearly salary by 365 days.
First five years is 21 days x daily rate x period worked
Five to Ten years is 30 days x daily rate x period worked after five years.
For example - If you had yearly salary of 400,000dhs, started on 4th Dec 2004 and left on 30th June 2011 you'd be owed 166,680dhs
Sample excel attached.
(this is an example - not saying it's 100% correct but I think it is...)
My understanding is:
Workout out your daily salary by dividing your yearly salary by 365 days.
First five years is 21 days x daily rate x period worked
Five to Ten years is 30 days x daily rate x period worked after five years.
For example - If you had yearly salary of 400,000dhs, started on 4th Dec 2004 and left on 30th June 2011 you'd be owed 166,680dhs
Sample excel attached.
(this is an example - not saying it's 100% correct but I think it is...)
#4
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Joined: Oct 2008
Posts: 2,502
Re: Article On End Of Service Gratuity
You only get the 21 days/year if you've been with the company for a full five years. I think it's seven days for 1 to 3 years, 14 days for 3-5 years and 21 days for 5 to 10 years. More than ten years is 30 days for each year but it's also capped to no more than two years' salary total.
Unless it's changed in the last 2 months then that article is rubbish...
My understanding is:
Workout out your daily salary by dividing your yearly salary by 365 days.
First five years is 21 days x daily rate x period worked
Five to Ten years is 30 days x daily rate x period worked after five years.
For example - If you had yearly salary of 400,000dhs, started on 4th Dec 2004 and left on 30th June 2011 you'd be owed 166,680dhs
Sample excel attached.
(this is an example - not saying it's 100% correct but I think it is...)
My understanding is:
Workout out your daily salary by dividing your yearly salary by 365 days.
First five years is 21 days x daily rate x period worked
Five to Ten years is 30 days x daily rate x period worked after five years.
For example - If you had yearly salary of 400,000dhs, started on 4th Dec 2004 and left on 30th June 2011 you'd be owed 166,680dhs
Sample excel attached.
(this is an example - not saying it's 100% correct but I think it is...)