Gratuity Act - Doc Download - Gratiuty Act

hi anita
gratuity act every employee eligable for a gratuity when he compleated five year in a company then he is eligable for a gratuity amount .and the formula is basic+da * number of years*15/26
regards
mukesh

Hi friends,
Is it mandatory for a company to provide gratuity for its employees or is it based on the company's policy...
Kindly let me know...
Thanks
Sowmya

Dear Umesh,
I woild like to know the procedure of Forming a Gratuity Trust at our end (ie : Company) & not with any Financial Institution,Bank Or LIC
1. How to Register the Gratuity Fund and where
2. Is there any requirement to deposit Premium (Monthly / Yearly)
3. Any format to Form Gratuity Trust.
4. Where to submit the Trust Deed etc
5. Is it mandatory to take Insurance from LIC of India for the liabilities of the employee's , even after managing the Gratuity Fund by company (Pls go through - Section 4A of gratuity Act'1972)
I will be thankful, If you could mail me entire procedure of forming a Gratuity Trust & Registering the same with the controlling authority at [Login to view]
Warm Regards
JK

if the time closer of the company, employee tenure with company not more than 4 years and above . how claculate gratuity

Hello Dear Anitha
this is venkatesh , Asst. Manager-HR, Chennai
This is not a big problem
rgds,
venkatesh G
9884321474

Dear Yashaswani,
Under the Payment of Gratuity Act,1972 the nominee can claim gratuity amount from the employer in case of death of an employee who have completed one year of continuous service.
Regards
R.N.Khola
Sr Associate

Hi,
I would like to have solution on few queries of gratuity:
1. Is gratuity applicable to a proprietory firm not registered under shop & establishment act.
2. Its not mentioned as part of CTC than too does an employer is liable to pay to employee on completion of 5 yrs on service in organisation
3. Is there any statutory body where in the company has to pay the amount of gratuity or company pays directly to an employee.
Awaiting your reply you can mail me at [Login to view]

Would llike to know few details about gratuity:
Is it mandatory in proprietorship firm which is not registered under shop and establishment act
Is there any Statutory body or financial institution where in the company has to pay the gratuity or it can directly pay to its employee on completion of 5 years of service in organisation.
You can mail at [Login to view]
Awaiting your reply
Regards,
Rina

Dear Rina,

This is for your information that this act is applicable to every shop or establishment within the meaning of any law for the time being in force in relation to a shop & establishments in a state in which 10 or more persons are employed or were employed on any day of preceding twelve months. In this is way what is necessary is the coverage under shop Act & employment of 10 persons. If the shop is not regd. under the shop Act then this will not effect the right of the employee to have gratuity. This amount can be directly paid to the employee. It is not necessary to pay the installment to any financial institution.

Hope this clarifies your query.
Regards,
R.N.Khola
Sr.Associate
Skylark Associates, Gurgaon
(Labour Law & Legal Consultants)
09810405361

Dear Anitha,Pls find attached the important forms to start with Gratuity compliance.Form A - Notice of Opening.Form U - Abstract to be displayed at prominent place.Form F - Nomination to be received from all employees completed 1yrs service.Form I - Appln by employee for claiming benefit.Abstract for better understanding of the Act.If in case you find difficult to maintain the compliance, you can approach the below third party Insurance companies for Group Gratuity plan, which will ease your operations.LICMaxNewYork LifeINGRgds,Suresh RamalingamManager - Compliance