How To Process PF And Gratuity At A Logistic Firm ? - CiteHR
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our company PF enrollment 01.01.2007 now management has been decided to pay gratuity to employees but there is no provisions till the date.
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If the query pertains to gratuity(which it seems), do not worry about the provision, if your establsihmet is covered under the Grauity Act 1972 because the Act grants this rigt to an employee but not the employer. Gratuity Act is applicable to every factory or shop and establishment employing ten or more employees.
Apart from Mr Sai Kumar's advise, you can make provision now.
For those who has left you can pay the gratuity as per the act and book directly in the books of accounts.
For those who comes under the Gratuity but still continuing the job, you can make the provision for the same in your books of accounts from this year.
It is advisable to contact LIC who gives a good proposals for Gratuity Plan
Dear All, firstly thanks for sharing above valuable knowledge about gratuity. secondly what are the nessecery steps have to be follow by our company. kindly revert Thanks & Regards Keerti Gupta
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