Dear Mr. Agarwal,
There is a contradiction, as the amendment of The PG Bill 2009 states clearly that it excludes Government officials "Clearly Stated in the bill" (please read and refer) and it need to be presented to the President of India for "Ascent" then only it would become law.
There are some bills presented in parliament no need to be placed before both the houses.
Jaikumar Ranganathan
From India, Madras
There is a contradiction, as the amendment of The PG Bill 2009 states clearly that it excludes Government officials "Clearly Stated in the bill" (please read and refer) and it need to be presented to the President of India for "Ascent" then only it would become law.
There are some bills presented in parliament no need to be placed before both the houses.
Jaikumar Ranganathan
From India, Madras
Dear Udita,
That is true, we can pay only Rs.3.5 lakhs as "Maximum Limit prescribed for I-T exemption" however an employer can pay anything as gratuity but duly taxable as now-a-days employers are insuring their Pay-outs by creating a Gratuity Policy.
Calculation of Gratuity is simple =
Salary (Basic + DA) x 15/26 x No. of years of service
Basic qualifications
* undisturbed service of continued 5 years with one single employer
I think this would satisfies your requirement
Regards
Jaikumar Ranganathan
(0)9176809600 / 9444020774
From India, Madras
That is true, we can pay only Rs.3.5 lakhs as "Maximum Limit prescribed for I-T exemption" however an employer can pay anything as gratuity but duly taxable as now-a-days employers are insuring their Pay-outs by creating a Gratuity Policy.
Calculation of Gratuity is simple =
Salary (Basic + DA) x 15/26 x No. of years of service
Basic qualifications
* undisturbed service of continued 5 years with one single employer
I think this would satisfies your requirement
Regards
Jaikumar Ranganathan
(0)9176809600 / 9444020774
From India, Madras
46
Hi murali ,
Thanks for your giving information, and i want know the details every month the employer have to pay that LWF or yearly once. and then how can we deduct that LWF from salary....we want to show in salary slip ...?
Rajesh
chennai
From India, Madras
Thanks for your giving information, and i want know the details every month the employer have to pay that LWF or yearly once. and then how can we deduct that LWF from salary....we want to show in salary slip ...?
Rajesh
chennai
From India, Madras
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Payment-of-Grat uity-Amendment- Bill-2010.pdf