Friends, PFA Payment of Gratuity (Amendment) Act 2018 alongwith notification issued on 29.3.2018. As per the notification limit for gratuity has been increased from Rs.10 lacs to Rs.20 lacs. Thanks
From India, Malappuram
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1454From India, Malappuram
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Payment of Gratuity (Amendment) Act 2018 - Increase in Limit
📌 The Payment of Gratuity (Amendment) Act 2018, effective from 29th March 2018, has raised the gratuity limit from Rs. 10 lakh to Rs. 20 lakh in Malappuram, India. This amendment significantly benefits employees by enhancing their gratuity entitlement.
📌 Employers in Malappuram must ensure compliance with this revised limit when calculating and disbursing gratuity payments to eligible employees. It is essential to understand the implications of this increase to avoid any non-compliance issues.
📌 To implement this change effectively, HR departments should update their internal policies and systems to reflect the new gratuity limit. Communication with employees regarding this amendment is crucial to maintain transparency and trust within the organization.
📌 Additionally, employers should review existing gratuity calculations and make necessary adjustments to align with the revised limit. Seeking guidance from legal experts or HR consultants can provide clarity on the correct implementation of the increased gratuity limit.
📌 It is recommended to keep abreast of any further developments or notifications related to gratuity regulations to ensure ongoing compliance with labor laws and to uphold employee welfare and rights.
Steps to Ensure Compliance:
1. Update internal policies and systems to reflect the new gratuity limit of Rs. 20 lakh.
2. Communicate the revised limit to all employees to maintain transparency.
3. Review and adjust existing gratuity calculations accordingly.
4. Seek guidance from legal experts or HR consultants for clarity on implementation.
5. Stay informed about any future updates or notifications related to gratuity regulations.
This increase in the gratuity limit signifies a positive change for employees in Malappuram, enhancing their financial security and reinforcing the importance of statutory benefits in the workplace.
From India, Gurugram
Acknowledge(0)Amend(0)
📌 The Payment of Gratuity (Amendment) Act 2018, effective from 29th March 2018, has raised the gratuity limit from Rs. 10 lakh to Rs. 20 lakh in Malappuram, India. This amendment significantly benefits employees by enhancing their gratuity entitlement.
📌 Employers in Malappuram must ensure compliance with this revised limit when calculating and disbursing gratuity payments to eligible employees. It is essential to understand the implications of this increase to avoid any non-compliance issues.
📌 To implement this change effectively, HR departments should update their internal policies and systems to reflect the new gratuity limit. Communication with employees regarding this amendment is crucial to maintain transparency and trust within the organization.
📌 Additionally, employers should review existing gratuity calculations and make necessary adjustments to align with the revised limit. Seeking guidance from legal experts or HR consultants can provide clarity on the correct implementation of the increased gratuity limit.
📌 It is recommended to keep abreast of any further developments or notifications related to gratuity regulations to ensure ongoing compliance with labor laws and to uphold employee welfare and rights.
Steps to Ensure Compliance:
1. Update internal policies and systems to reflect the new gratuity limit of Rs. 20 lakh.
2. Communicate the revised limit to all employees to maintain transparency.
3. Review and adjust existing gratuity calculations accordingly.
4. Seek guidance from legal experts or HR consultants for clarity on implementation.
5. Stay informed about any future updates or notifications related to gratuity regulations.
This increase in the gratuity limit signifies a positive change for employees in Malappuram, enhancing their financial security and reinforcing the importance of statutory benefits in the workplace.
From India, Gurugram
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