hi anita
gratuity act every employee eligable for a gratuity when he compleated five year in a company then he is eligable for a gratuity amount .and the formula is basic+da * number of years*15/26
regards
mukesh
From India, Gurgaon
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gratuity act every employee eligable for a gratuity when he compleated five year in a company then he is eligable for a gratuity amount .and the formula is basic+da * number of years*15/26
regards
mukesh
From India, Gurgaon
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Hi friends, Is it mandatory for a company to provide gratuity for its employees or is it based on the company’s policy... Kindly let me know... Thanks Sowmya
From India, Madras
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14From India, Madras
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Dear Umesh,
I woild like to know the procedure of Forming a Gratuity Trust at our end (ie : Company) & not with any Financial Institution,Bank Or LIC
1. How to Register the Gratuity Fund and where
2. Is there any requirement to deposit Premium (Monthly / Yearly)
3. Any format to Form Gratuity Trust.
4. Where to submit the Trust Deed etc
5. Is it mandatory to take Insurance from LIC of India for the liabilities of the employee's , even after managing the Gratuity Fund by company (Pls go through - Section 4A of gratuity Act'1972)
I will be thankful, If you could mail me entire procedure of forming a Gratuity Trust & Registering the same with the controlling authority at
Warm Regards
JK
From India, Pune
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I woild like to know the procedure of Forming a Gratuity Trust at our end (ie : Company) & not with any Financial Institution,Bank Or LIC
1. How to Register the Gratuity Fund and where
2. Is there any requirement to deposit Premium (Monthly / Yearly)
3. Any format to Form Gratuity Trust.
4. Where to submit the Trust Deed etc
5. Is it mandatory to take Insurance from LIC of India for the liabilities of the employee's , even after managing the Gratuity Fund by company (Pls go through - Section 4A of gratuity Act'1972)
I will be thankful, If you could mail me entire procedure of forming a Gratuity Trust & Registering the same with the controlling authority at
Warm Regards
JK
From India, Pune
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if the time closer of the company, employee tenure with company not more than 4 years and above . how claculate gratuity
From India, Vadodara
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From India, Vadodara
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Hello Dear Anitha this is venkatesh , Asst. Manager-HR, Chennai This is not a big problem rgds, venkatesh G 9884321474
From India, Madras
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From India, Madras
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Dear Yashaswani,
Under the Payment of Gratuity Act, 1972, the nominee can claim the gratuity amount from the employer in case of the death of an employee who has completed one year of continuous service.
Regards,
R.N. Khola
Sr. Associate
From India, Delhi
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Under the Payment of Gratuity Act, 1972, the nominee can claim the gratuity amount from the employer in case of the death of an employee who has completed one year of continuous service.
Regards,
R.N. Khola
Sr. Associate
From India, Delhi
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Hi,
I would like to have a solution for a few queries on gratuity:
1. Is gratuity applicable to a proprietary firm not registered under the Shop & Establishment Act?
2. It's not mentioned as part of CTC; however, is an employer still liable to pay the employee upon completion of 5 years of service in the organization?
3. Is there any statutory body to which the company has to pay the gratuity amount, or does the company pay it directly to the employee?
Awaiting your reply. You can email me at rina_nandu@hotmail.com.
From India
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I would like to have a solution for a few queries on gratuity:
1. Is gratuity applicable to a proprietary firm not registered under the Shop & Establishment Act?
2. It's not mentioned as part of CTC; however, is an employer still liable to pay the employee upon completion of 5 years of service in the organization?
3. Is there any statutory body to which the company has to pay the gratuity amount, or does the company pay it directly to the employee?
Awaiting your reply. You can email me at rina_nandu@hotmail.com.
From India
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I would like to know a few details about gratuity:
Is it mandatory in a proprietorship firm that is not registered under the Shop and Establishment Act? Is there any statutory body or financial institution where the company has to pay the gratuity, or can it directly pay its employee upon completion of 5 years of service in the organization?
You can email me at rina_nandu@hotmail.com.
Awaiting your reply.
Regards,
Rina
From India, Mumbai
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Is it mandatory in a proprietorship firm that is not registered under the Shop and Establishment Act? Is there any statutory body or financial institution where the company has to pay the gratuity, or can it directly pay its employee upon completion of 5 years of service in the organization?
You can email me at rina_nandu@hotmail.com.
Awaiting your reply.
Regards,
Rina
From India, Mumbai
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Dear Rina,
This is for your information that this act is applicable to every shop or establishment within the meaning of any law for the time being in force in relation to a shop & establishments in a state in which 10 or more persons are employed or were employed on any day of the preceding twelve months. In this way, what is necessary is the coverage under the Shop Act & employment of 10 persons. If the shop is not registered under the Shop Act, then this will not affect the right of the employee to have gratuity. This amount can be directly paid to the employee. It is not necessary to pay the installment to any financial institution.
Hope this clarifies your query.
Regards, R.N.Khola Sr. Associate
Skylark Associates, Gurgaon (Labour Law & Legal Consultants) 09810405361
From India, Delhi
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This is for your information that this act is applicable to every shop or establishment within the meaning of any law for the time being in force in relation to a shop & establishments in a state in which 10 or more persons are employed or were employed on any day of the preceding twelve months. In this way, what is necessary is the coverage under the Shop Act & employment of 10 persons. If the shop is not registered under the Shop Act, then this will not affect the right of the employee to have gratuity. This amount can be directly paid to the employee. It is not necessary to pay the installment to any financial institution.
Hope this clarifies your query.
Regards, R.N.Khola Sr. Associate
Skylark Associates, Gurgaon (Labour Law & Legal Consultants) 09810405361
From India, Delhi
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Dear Anitha,
Please find attached the important forms to start with Gratuity compliance:
- Form A: Notice of Opening.
- Form U: Abstract to be displayed at a prominent place.
- Form F: Nomination to be received from all employees who have completed 1 year of service.
- Form I: Application by an employee for claiming benefits.
These forms are essential for better understanding of the Act. If you encounter difficulties in maintaining compliance, you can approach the following third-party insurance companies for a Group Gratuity plan, which will ease your operations:
- LIC
- Max New York Life
- ING
Regards,
Suresh Ramalingam
Manager - Compliance
From India, Mumbai
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Please find attached the important forms to start with Gratuity compliance:
- Form A: Notice of Opening.
- Form U: Abstract to be displayed at a prominent place.
- Form F: Nomination to be received from all employees who have completed 1 year of service.
- Form I: Application by an employee for claiming benefits.
These forms are essential for better understanding of the Act. If you encounter difficulties in maintaining compliance, you can approach the following third-party insurance companies for a Group Gratuity plan, which will ease your operations:
- LIC
- Max New York Life
- ING
Regards,
Suresh Ramalingam
Manager - Compliance
From India, Mumbai
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