What Have You Achieved over the Last 6 Months?

Curious as to what what Have You Achieved over the Last 6 Months impacts your daily choices? Read our breakdown with up-to-date information.

Also, for the number of months in the last year of employment, anything above 6 months is rounded off to the next number while anything below 6 months in the last year of employment is rounded off to the previous lower number. Even if the organisation is not part of the Act, they can pay gratuity.

What is the tax deduction for half year?

Let us assume that an employee earns Rs 7,000 per month (Rs 42,000 in a half-year period). The PT deduction for a half-year period should be Rs 235 (as per the PT slabs). As per the equated PT deduction logic, the organization will deduct Rs 39 per month (Rs 235/6).

What’s the difference between FM, HM and modified half month?

FM = Full Month: The fixed asset receives a full month of depreciation during the month when it is placed in service. It does not receive depreciation for the month of disposal. HM = Modified Half Month: If the fixed asset is put into service during the first half of the month, it receives a full month of depreciation.