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Gratuity & bonus
Dear all company i work for was formed as partnership company in the year 2000. in 2004 it became private limited company. all the employees are on contract bases & not on salary. we have staff of 25 people. i had 2 queries: 1 is bonus compulsory? does company have to pay it compulsory & at fix rate even if employees are on contract basis. 2 is gratuity apply for employees on contract too? as when raised query with management management replied that company will deduct gratuity portions from salary to employee. as it happens in all companies. just wanted to know that is gratuity compulsory? & does amount gets deducted from existing salary.
Doubt on gratuity
Dear alli hav a doubt in gratuity...actually gratuity will be given to employees who has completed 5 yrs of continuous service... this is stated in the gratuity act 1972.but in it companies gratuity is deducted from the basic salary of the employees... they are deducting 4.81 of hy they are deducting...? gratutiy is one of the benefits of employee provided by the organization. but these it companies are deducting from their employees itself...? whats the reason...please clear me...
Employee transfer within group company- compulsory documentation required to be done to ensure gratuity benefits from date of joining at first location
Dear hrs an employee is transferred from one location to another within same group organization. he covered under group gratuity scheme from lic. please help me with the formalities to be done at employer s / lic end to ensure continuity of his eligibility for gratuity benefits from date of joining at first location. thanks rakesh shinde
Gratuity payment
Hi seniors i ve recently joined a mfg co in mumbai. the company does not have gratuity policy and there are few employees who have completed 5 yrs and more and 3 employees have completed 10 yrs and will retire next year. my query is : please let me know whether its compulsory for all the companies to register under gratuity act 1972 to avail gratuity and if the company is not registered what will be the consequences? awaiting your valuable feedback. thanks and regards coolchini
Is it compulsory to give gratuity amount?
Dear all company is pvt. ltd domain : itsoftware one of our employee claimed for gratuity amount.... he has completed 6 year and going to resign in next month so is it compulsory to give gratuity amount ??? . company is liable for that ?
Karnataka compulsory gratuity insurance rules, 2024 - required to obtain a valid insurance policy
The government of karnataka on 10th january 2024 notified regarding the karnataka compulsory gratuity insurance rules 2024. the rules are made under the powers conferred by the payment of gratuity act 1972. the rules primarily focus on compulsory insurance for the payment of gratuity to eligible employees. new employers and existing establishments are required to obtain a valid insurance policy from a recognized insurance company within specific timeframes and renewed periodically register their establishments with the controlling authority and provide details of the employees insured along with any changes in the future. the notification includes various forms for application the option to continue existing insurance schemes details of employees covered under compulsory insurance and the register of establishments under compulsory insurance. employers are mandated to comply with the provisions of the act exercise due diligence for ontime payment of premiums and ensure the fulfillment of their liabilities under the act. in summary the karnataka compulsory gratuity insurance rules 2024 outline the mandatory requirements for employers to obtain insurance for the payment of gratuity to eligible employees and ensure compliance with the provisions of the payment of gratuity act 1972.