Gratuity is given after five year of continioue service however tds is deducted every monted on the basis of his salry
From India, Delhi
From India, Delhi
Thanks for the reply. We are deducting the TDS on Salary. My query is if we make the provision for Gratuity without flowing out the money and only it is in books of accounts. Pls. clarify
From India, Bangalore
From India, Bangalore
dear there is no earning and no payment is made to anyone .you are just making provisions only.when payment is not made than TDS will not be deducted. tks j s malik
From India, Delhi
167From India, Delhi
Dear,
Payment of Gratuity is taxable to any amount above Rs.3.5 lacs and as per Gratuity Act their is ceiling of Tax exemption only upto payment of Rs. 3.5 Lacs and any amount paid above that is subject to tax liability.
Regards,
Dilip Satpute
From India, Mumbai
Payment of Gratuity is taxable to any amount above Rs.3.5 lacs and as per Gratuity Act their is ceiling of Tax exemption only upto payment of Rs. 3.5 Lacs and any amount paid above that is subject to tax liability.
Regards,
Dilip Satpute
From India, Mumbai
can any body can say why this gratuity should pay by the employer? and how he will pay the gratuity??? ie., if one is working @ an organization for 5+ years and at same time if co; incurs losses for the 3 or 4 consecutive years then what is the procedure??
and other is will/should the employee maintain any provisions for this gratuity??
From India, Hyderabad
and other is will/should the employee maintain any provisions for this gratuity??
From India, Hyderabad
Dear Shobha,
The gratuity gets accumulated in the records after completion of 5 years service. At the time of your retirement, the sum will be settled along with other monetary benefits by your employer.
Regards,
Saraswathi
From India, Bangalore
The gratuity gets accumulated in the records after completion of 5 years service. At the time of your retirement, the sum will be settled along with other monetary benefits by your employer.
Regards,
Saraswathi
From India, Bangalore
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