Dear All,
What is the means of Gratuity limit Rs 10 lakh (under section 4) it is only for benefit from TDS or it is for maximum limit of Rs.10 lakh for employer to give an employee in case of calculation more than 10 lakh.
If any one have judgement regarding this matter, please share.
Regard
Sikander Dogra
From India, Delhi
What is the means of Gratuity limit Rs 10 lakh (under section 4) it is only for benefit from TDS or it is for maximum limit of Rs.10 lakh for employer to give an employee in case of calculation more than 10 lakh.
If any one have judgement regarding this matter, please share.
Regard
Sikander Dogra
From India, Delhi
Dear Mr.Sikander Dogra,
Rs. 10 lakh limit is not only for Income Tax exemption, but for statutory claim on gratuity. But if employer wish, this limit is nit applicable as per section 4(5) as under.
"Nothing in this section shall affect the right of an employee receive better terms of gratuity under any award or agreement or contract with the employer"
Abbas.P.S
From India, Bangalore
517Rs. 10 lakh limit is not only for Income Tax exemption, but for statutory claim on gratuity. But if employer wish, this limit is nit applicable as per section 4(5) as under.
"Nothing in this section shall affect the right of an employee receive better terms of gratuity under any award or agreement or contract with the employer"
Abbas.P.S
From India, Bangalore
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Gratuity Limit.jpg
Gratuity AM-02-Limit to Rs. 20 L-29-03-2018.pd f