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Dear Patel210,
As per my assumption employee has died on account of employment injury.Otherwise he would have continued in your organization.Though we can't assume how long he will continue his service till retirement if he is loyal to the organization my opinion we have to consider just like workman compensation which it renders the compensation covers till his retirement age in terms of loss of capacity as the early period during his employment.Any how if your management do so there may be little comfort to the bereaved family as the head of family missed in their life.
From India, Secunderabad
As per my assumption employee has died on account of employment injury.Otherwise he would have continued in your organization.Though we can't assume how long he will continue his service till retirement if he is loyal to the organization my opinion we have to consider just like workman compensation which it renders the compensation covers till his retirement age in terms of loss of capacity as the early period during his employment.Any how if your management do so there may be little comfort to the bereaved family as the head of family missed in their life.
From India, Secunderabad
Dear Mr. HR
Your quries have been answered in the foregoing threads:
1 gratuity period calculation in case of death: Period of Service rendered. If you have LIC policy, then as per policy.
2 taxable gratuity amount is still to be replied : See Section 10(10)(ii) of the Income Tax Act or consult your CA.
V K Gupta
From India, Panipat
Your quries have been answered in the foregoing threads:
1 gratuity period calculation in case of death: Period of Service rendered. If you have LIC policy, then as per policy.
2 taxable gratuity amount is still to be replied : See Section 10(10)(ii) of the Income Tax Act or consult your CA.
V K Gupta
From India, Panipat
Dear
In such case that your organization has tied up with LIC on a later date, the deceased will be entitled for gratuity for the period of rendered service only. Many followers have mentioned the limit of gratuity as 3.5 lakhs or non-taxable upto 5 lakhs. But Sirs, the gratuity limit has been raised to Rs.10 Lakhs as of now. It is fully non-taxable.
Best wishes to all
Arun Jain
HR Personnel
NCL, CIL
From India, Jabalpur
In such case that your organization has tied up with LIC on a later date, the deceased will be entitled for gratuity for the period of rendered service only. Many followers have mentioned the limit of gratuity as 3.5 lakhs or non-taxable upto 5 lakhs. But Sirs, the gratuity limit has been raised to Rs.10 Lakhs as of now. It is fully non-taxable.
Best wishes to all
Arun Jain
HR Personnel
NCL, CIL
From India, Jabalpur
Dear,
as you mentioned, we have already done it that through our employee contribution scheme and again i personally think if i have to give gratuity amount for the remaining years of services also thn it would be more comfort for his family. bt for that i need some written docs which help me to put my effort to managemnt.
thts why i m wondering for that .
From India, Vadodara
as you mentioned, we have already done it that through our employee contribution scheme and again i personally think if i have to give gratuity amount for the remaining years of services also thn it would be more comfort for his family. bt for that i need some written docs which help me to put my effort to managemnt.
thts why i m wondering for that .
From India, Vadodara
Taxable gratuity amount only if exceeds Rs.10lakshs.Upto the amount non taxable.
From India, Secunderabad
From India, Secunderabad
Dear, if any employee complies the 6 months of next year of service then one year to be considered.
From India, Pune
From India, Pune
Now the limitation has been enhanced to subject to the maximum of 10 lk. No tax on this. Mr Sachin ,can proceed for the actual completion of services with you. Regard Thilai.
From India, Madurai
From India, Madurai
Dear All,
i would like to reveal you everyone that i had gone through the Act and consulted to one of consultant and finally i got the answer that organisations are liable to pay gratuity for the completed years of services only. and i have done it as per the act
i would thankful to everyone for giving their valuable suggestion for above query.
i look forward from this forum to resolve any kind of queries.
Thanks again to everyone.
From India, Vadodara
i would like to reveal you everyone that i had gone through the Act and consulted to one of consultant and finally i got the answer that organisations are liable to pay gratuity for the completed years of services only. and i have done it as per the act
i would thankful to everyone for giving their valuable suggestion for above query.
i look forward from this forum to resolve any kind of queries.
Thanks again to everyone.
From India, Vadodara
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