Dear All,
i am working in a manufacturing organization. we want to reduce our liability of employees. we want to pay gratuity during service and if we pay gratuity past years gratuity then there should not be any claim regarding gratuity if salary increase in current year.
From Pakistan, Lahore
i am working in a manufacturing organization. we want to reduce our liability of employees. we want to pay gratuity during service and if we pay gratuity past years gratuity then there should not be any claim regarding gratuity if salary increase in current year.
From Pakistan, Lahore
Hi,
Please go through the below link for getting details on gratuity
https://www.citehr.com/133633-how-pa...regulated.html
With Regards,
Priya
From India, Bangalore
25Please go through the below link for getting details on gratuity
https://www.citehr.com/133633-how-pa...regulated.html
With Regards,
Priya
From India, Bangalore
As per law, payment of gratuity shall be calculated on the last drawn wages/salary. You can not make new policies on gratuity. pon
From India, Lucknow
From India, Lucknow
You may go for LIC's Group Gratuity Scheme. They work on very low premium i.e. around 2.5% of annual basic salary as compared to under gratuity act i.e. 4.81% of total annual basic salary. This will reduce your headche of arranging funds for gratuity. Over and above that in case death the LIC pays for gratuity till the age of retirement. You can check up for this sscheme with Local LIC Office.
From India, Nagpur
From India, Nagpur
Dear Javed Ji,
In our country, gratuity is payable only at the end of the service, not during the service. This is an universal concept so in your Pakistan also, the same basic principle would be applicable. Even if you pay gratuity to your employees during service at current rate, at the termination of service of an employee, gratuity would be payable as per your gratuity act. The option of group insurance policy of LIC of India is very good in India but it may not work in Pakistan. You may check up similar options in your country. Thanks and regards,
From India, Pune
In our country, gratuity is payable only at the end of the service, not during the service. This is an universal concept so in your Pakistan also, the same basic principle would be applicable. Even if you pay gratuity to your employees during service at current rate, at the termination of service of an employee, gratuity would be payable as per your gratuity act. The option of group insurance policy of LIC of India is very good in India but it may not work in Pakistan. You may check up similar options in your country. Thanks and regards,
From India, Pune
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Payment of Gratuity Act, 1972 & The Rules.ppt
THE PAYMENT OF GRATUITY ACT 1972.doc