Gratuity Settlement

Open HRMS Gratuity Settlement module handles employee settlements during the resignation procedure. . The last salary of employee is calculated from his latest payslip.

Description

Overview

Employee Gratuity Settlement is a component of Open HRMS suit. This module manages employee settlements during resignation process. A Gratuity Settlement can be created only if the Resignation Request of the employee is approved. The Gratuity amount is calculated by the basic equation, Last drawn salary (basic salary plus dearness allowance) * number of completed years of service * 15/26.


Features

 Manager can create Gratuity Settlements of Employees.

 A settlement can be created only if the Resignation Request of the employee is approved.

 The Gratuity Amount is calculated based on a predefined equation.