How Can Companies Include Gratuity Provision in LIC for Employees and What Are the Benefits?

Dear Folks,

Greetings for the day!

Hope everyone is doing well amidst busy schedules. I am working in a manufacturing company. May I request all of you to share information on how to include "Gratuity provision in LIC for employees" from the company's side, and its benefits.

Hope to receive an early reply.

Regards,
Srinivas Karamcheti

Dear Srinivas,

The government has not made it compulsory to have insurance from LIC of India under section 4A so far, as no notification has been issued by the government regarding the enforcement of this section. For further details, you may contact the nearest office of LIC.

Regards,
R.N.Khola
Skylark Associates, Gurgaon (Haryana)
(Labour Law & Legal Consultants)
09810405361

Dear,

Similar is the situation in Punjab. The state government in Punjab (i.e., appropriate Govt.) has also not notified the date of enforcement of Sec. 4A of the Gratuity Act. To get an LIC policy for Gratuity, you may contact your nearest LIC Office.

Regards