Labour Laws & Ir
Labour & Industrial Laws
24th April 2010 From India, Malappuram
(2) just like pension the payment of gratuity must be proportionate to the year of service - with 30 years as full eligible service and any thing less in proportion to that. There is no point in fixing a cieling as years goes by. Since in the industrial sector there is no pension apart from the EPF pension and the bonus is limited to the rock bottom, gratuity is the only amount what an employee gets on super annuation.
26th April 2010 From India, Thiruvananthapuram
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26th April 2010 From India, Chandigarh
29th April 2010 From India, Delhi
The bill was introduced and passed on the Lok Sabha on 3rd May 2010. But can anyone guess/imagine from which date onwards it will be effective? What could be the possibility of it getting effected with retospective effect from an earlier date?
Please see the extract from LOK Sabha Bulletin part 1 on 3rd May 2010
(ii) The Payment of Gratuity(Amendment) Bill, 2010
Time Taken: 3 mts.
The motion for consideration of the Bill was moved by Shri Mallikarjun Kharge.
The motion for consideration was adopted and clause-by-clause consideration of the Bill was taken up.
Clause 2 was adopted.
Clause 1 was adopted.
The Enacting Formula and the Long Title were also adopted.
The motion that the Bill be passed was moved by Shri Mallikarjun Kharge.
The motion was adopted and the Bill was passed.
6th May 2010 From India, Kochi
6th May 2010 From India, Kochi
I recently retired from a Public Sector Unit. I was eligible for a gratuity of Rs 5,31,00 as per the rules, but because of the ceiling existing as on 05-05-2010(the date on which the proceedings were awarded) I could get only Rs 350,000.
The newspapers on 06-05-2010 have the story that the proposed amendment in the Gratuity Act to raise the ceiling to Rs 10 Lakhs in place of the original Rs 3.5 Lakhs has now been approved.
The amended Act was not available on search here.
Please tell me:
(1) Where can I get a pdf file of the new Gratuity Act?
(2) When does it become operative
(3)Will it apply with retrospective effect in my case of retirement on 31-03-2010?
Venugopalan K M.
more at http://citehr.com#ixzz0nbiEst5h
11th May 2010 From India, Kochi
I am serving as senior exrecutive with a Public Sector Bank & am retiring on May 31, 2010. Payment of Gratuity Bill was been passed by both houses of Parliament by May 7. No news of President's signatures since then. As the bill had all party support why Madam President is taking so long to sign & when will notification come. Also Will it be effective from date of signing by President as it converts into an Act ie law on that day or date of notification? Please clarify. Shall await yr response as time is running out.RK KAPOOR
20th May 2010 From India, Delhi
24th May 2010 From India, New Delhi
Payment of gratuity calculation for employee is 45 days of its last payment in his organization into no of year of service If his organization is going to close also not given any notice to employee also send me another dues to recover from organization
11th April 2011 From India, Mumbai
We offer end to end online/offline paid support services for the formation of gratuity trust. Our Services includes:-
1. Specialized Support Services for preparation of Inputs for Actuarial Certificate for Value of Obligation under the Gratuity Plan to be taken from an Actuary. This Certificate forms the basis for Initial contribution to be made by the organization into the Gratuity Fund.
2. Support Services in preparation of a board resolution to be passed by the Management of the company for formation of Gratuity Trust.
3. Analytic Support for Management of the Company to take the decision about Investment of the Self Managed Gratuity Trust Investment to be Self Managed by the Trustees or It will be any Investment Service Provider.
4. Advisory Services for Investment of Gratuity Fund into Group Gratuity Schemes.
5. Legal Support Services for Drafting Trust Deed and Trust Rules as per Income Tax Rules 1962.
6. Support Services for filing an application in IT Department for Approval for the purpose of tax exemptions upon the funding as well as the interest portion.
For more detail contact us at 9211637063 or send your queries/ requirement at my email ID -
7th June 2019 From India, Delhi