abhiishere Started The Discussion:

The Cabinet on Thursday approved an amendment to the Gratuity Act to raise the ceiling from Rs 3.5 lakh to Rs 10 lakh. The Bill to amend the Act will now go to Parliament, a government official told FE.
Every salaried person, who has completed five years of government or private sector service, is eligible for half a month's salary as gratuity for every completed year of service. But the gratuity pay of those with higher salaries is now limited at Rs 3.5 lakh. The proposed amendment raises this to Rs 10 lakh. Every employer with more than ten salaried workers is mandated to provide gratuity to the eligible employees. Many companies, however, do not keep the gratuity liability adequately funded. That is, they make provisions for future payment, but do not set aside funds towards the future payment. Listed companies are expected to disclose their gratuity liability.
Meanwhile, the Cabinet Committee on Economic Affairs (CCEA) approved a proposal of India Infrastructure Development Fund Ltd (Mauritius) to raise contributions from international investors and invest in the India Infrastructure Development Fund. The proposal, earlier approved by the FIPB, will result in FDI exceeding Rs 750 crore.
The Cabinet approved the proposal of the shipping ministry to declare Andaman and Nicobar set of ports as major port and establish the Andaman and Nicobar Port Trust with its headquarters at Port Blair.

Posted 7th March 2010 From India, Ahmadabad
correct send the copy of Act correct send the copy of Act correct send the copy of Act correct send the copy of Act correct send the copy of Act correct send the copy of Act
Posted 9th March 2010 From India, Ludhiana
Biddu 
Since the amendment made in March over shadowing the sixth paycommission, is it applicable for the FY 2009-10?
Posted 11th March 2010 From India, Pondicherry
Hi Abhiishere, Can you send me the amendment bill for me please...? Is this approved by Union Cabinet? If yes, from when the bill will be effective? Thanks & Regards, Lakshmi.
Posted 14th March 2010 From India, Kakinada
Can someone explain the impact on the employer because of the amendment? What is the current cost and what would be impact because of the amendments. Thanks Vijaya
Posted 31st March 2010 From United Kingdom, London
FOR abhiishere

I THINK AFTER THE BILL BE PASSED BY THE PARLIAMENT, WILL GO TO THE PRESIDENT AND ONLY THEN NOTIFICATION BE ISSUED.

DATE OF EFFETIVE OF THE ACT IF ANY , TELL PLEASE, OR THE NOTIFICATION WILL TELL THE SAME
Posted 11th May 2010 From India, Delhi
Since the Payment of Gratuity Amendment bill has been passed in LOk Sabha and Rajaya Sabha on 4th & 5th May'10 when would the Gazette Notification available in website. Who can answer my query. I am eager to know the effective date of the revised Act.
Ashoke Kr Dhole
Posted 14th May 2010 From India, Calcutta
Gazette Notification No. and a copy of the Gratuity Amendmend Act 2010 is urgently required as my date of retirement is knocking at the door. Pl confirm. Ashoke Dhole
Posted 14th May 2010 From India, Calcutta
The Bill is for amendment in the is the amount . The word Rs 3.5 Lacs to be replaced with Rs 10.00 lacs in the Gratuity Act 1972. Other things remain unaltered
Posted 16th May 2010 From India, Bangalore
Dear Ajit, Thanks alot. We all were waiting for this notification. Now waiting is over. Regards, Sanjay Gupta
Posted 29th May 2010 From India, Delhi
With this Gazette notification, Govt have penalised the employees who retired between 1-1-2006 and 23-5-2010 unlike all previous revisions to the ceiling of Gratuity. This is the first time such meanness has been shown by the GOI.
Posted 4th June 2010 From India, Mumbai
Please provide the days increased more than 15 if our honourable P.M. have looked at the poor employees those who have served for 15 years at a stretch with the same employer. it is most required to review the days for gratuity calculations.
Posted 7th June 2011 From India, Vadodara



 
 
 
 







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