Gratuity Scheme.

When it is mandatory for a company to introduce the Gratuity Scheme?
Is there any fund schemes like PF, where company can deposit the monthly graduity amount?
:huh:Vidya

Dear Yidya,
Gratuity is Complesary for all the Company to pay the employees who work in same orgnisation at least 5 year of service and resigned from the company & Gratuity is 4.81% of Basic, can deposit at and Nationalise Insurance co.,

Gratuity is a statutory requirement.
You can check with your insurance Company to fix the frequency of paying the premiums. Generally, companies pay the premium on an annual basis.
Thanks & Regards,
Avika

hi
We have strength of 50 employees and we are in business from last four years, please advise, is it mandatory for us to introduce the Gratutity, as uptill now there is no provision for gratutity in our account books.
Also please advise can we show the Gratutity (4.81% of basic) in CTC.
thanks
Ruby