Kannanmv
Hr & Administration
Karamv
Hr & Admin
Sanagapalli
Labour Laws And Financial Matters
Ravi46
Human Resource
BHARGAVAPRAKASH
Labour Consultant
Sonyaa
Recruitment
Shikha Joshi
Hr-executive
+7 Others

What is Gratuity? what are the rules and regulations for Gratuity. Please Help as i have to prepare a presentation on this. Regards shikha joshi
19th November 2010 From India, Mumbai
Hi Shikha Please find attached file and their is each and every information.
19th November 2010 From India, New Delhi

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File Type: pdf Labour_Laws[1]..pdf (510.3 KB, 1718 views)

Dear Madan Mohan Verma,
I appreciate you have done a good work but a little bit confusion and incomplete updation becuase ESIC ceiling is 15000 now and gratuity 10 lacs.
You have posted past material before posting we should make sure is the right and should be accurate.Becuase this knowledge can create misunderstanding.
So in future we will be happy to check out and then post.
19th November 2010 From India, Jhajjar
Hi Shikha, little bit inputs from my end ........ maybe it will be helpful for you ...... regards
19th November 2010 From India, Bangalore

Attached Files
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File Type: ppt Gratuity.ppt (188.0 KB, 1132 views)

Dear Shiksha

You will find all information about Gratuity in Madan Mohan Verma's attachment.

As indicated by Karamvir the Gratuity ceiling is 10 Lakhs against 3.5 Lakhs found in the attachment.

Sonyaa can you please amend this aspect in your PPT please.

One more addition to the subject

LIC of India operates a Group Gratuity scheme to facillitate employers for payment of Gratuity.

As per this scheme LIC of India prepares an actuarial valuation based on the employee data provided by the employer and arrives at the liability of the employer. This amount has to be deposited by the employer to LIC of India. The amount deposited also earns interest at rates notified by LIC from time to time.

The unique feature of the scheme is there is a provision to cover risk on the life of employees as well. In other words if an employee dies while in service, normally the employer pays Gratuity till his date of death. But in LIC's scheme the Gratuity is paid till the date he would have superannuated from service.

M.V.KANNAN
20th November 2010 From India, Madras
to day iam very happy to to get this labour and gratuity information. pl forward with sample updated vat returns monthly ,yearly nagendra vara prasad
20th November 2010 From India, Vijayawada
Hi i am sambath kumar from chennai i have good exp in esi,pf,pay roll with 8 more years exp. I need a job in chennai any body can help
20th November 2010 From India, Madras
Hi Madan, Please clarify if employee is eligible for gratuity if worked for 4 years 7 months 20 days (ie 10 days short for 4.8 years) and what to do for claiming Regards Chandan
20th November 2010 From India, Maisuru
Hi
Good piece of information for all HR fraternity
Amendment to Gratuity from 3.5 lacs to 10 lacs
and amendment pending on Bonus - proposed from 8.33% to minimum of 11% and 3500 salary to 5000
regds
ravindra
20th November 2010 From India, Bangalore
hello shikha,
there is good attachment by me verma, and also a ppt from sonyaa, so get started........
Gratuity is payable to employees who have completed 5 years of continuous service.
Gratuity is payable from Date of joining i.e. date of probation (training, contract, retainership basis are not considered.) This should be mentioned in HR Policy of the company and appointment letter issued to employee.
Gatuity is calculated as = Last drawn (Basic+DA) x 15/26 x No. of year of continus. completed service It can be a component in CTC.
If employee leaves before 5 years Gratuity is not payable.
Gratuity upto Rs.3.50 lacs is not taxable.LIC is having a good Group Gratuity Scheme.
Payment of Gratuity is a statutory requirement.
all the best,
with regards,
shivendra
20th November 2010 From India, Gurgaon
I agree with him before posting, latest updation also to be taken care of it. Then it will be very useful . regards sanagapalli
21st November 2010 From India, Hyderabad
Gratuity - Employees working in the organisation is entilled to get the certain amount at termination of his services if he has worked for atleast 5 year or more in the leaving company. gratuity is calculated-
15/26* last salary drawn * no. of completed year of service.
maximum gratuity is payable is 10,00,000, earlier it was 3,50,000.
hope it will help you.
neha sandilliya
21st November 2010 From India, Pune
Dear All, I have a question. How will you define wages in this act. Is it gross salary including allowances( special, education, variable)?
21st November 2010 From India, Mumbai
hello
I am MBA Graduate in HR, giving certain campus interview. just want to know what are the basis question can be ask in the interview. plz suggest some topics. n am fresher with no background experience.
21st November 2010 From India, Pune
hi all seniors
my service was teminated n 2006
I never submitted any gratuity form to claim my gratuity money.
Bur my employer send me a cheque indicating this is your gratuity amount payable.
I replied mentioning the clause of gratuity act where employee must claim the gratuity money under prescribed form.
As I claimed some money from employer under legal procedure, I encashed the cheque after informing my employer that this is the money you paid towards my claim.
Please help me
Thank u all
Nablbona
21st November 2010 From India, Calcutta
Mr. Madan Mohan. Kindly amend the maximum limit of gratuity which is presently Rs.10,000,00 and not Rs.3,50,000
22nd November 2010 From India, Ahmadabad
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