Calculation of Retirement Benefits Salary
Calculation of Retirement
Benefits Salary:
Retirement benefits salary would comprise
of the following three elements only:
Ø Basic pay
Ø Dearness allowance only if it forms part of the salary for retirement benefits as per the terms of the agreement;
Ø Commission received as a fixed percentage of turnover achieved by the employee
Ø Note: RBS will not include any component other than those listed above. Therefore, while calculating RBS, allowances and perquisites shall not be taken into consideration. Further, RBS shall be computed on 'due' basis only for that period during which the rented accommodation is occupied by the employee.
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