The objective of providing for gratuity yearly basis is to manage the funds whenever there is a need for payment f gratuity without affecting the working capital. That is why an actuarial valuation s made to assess the probable liability. The valuation considers the age of the employees in particular. Since the employer is liable to pay gratuity if the employee dies without reference to his service or whether the deceased had completed five years or not, provision for gratuity is always justified.
As already pointed out and endorsed by Mr P Venu, the concept of CTC being a measure to lure the employees, is going to become a two side weapon, one of which will pierce the employer.
From India, Kannur
4219As already pointed out and endorsed by Mr P Venu, the concept of CTC being a measure to lure the employees, is going to become a two side weapon, one of which will pierce the employer.
From India, Kannur
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FORM-F-NOMINATI ON OF GRATUITY.pdf
Gratuity Form I.doc