I work for a startup which is a subsidiary of a listed company.
Currently in the start-up, we have 7 employees out of which 4 have been transferred from the parent company and have been working in the parent company for more than 5 yrs, the other 3 are new employees.
we plan to have around 50 employees by the year end and a total of 150 by the end of 2 yrs.
Currently, deductions are being made from our CTC for gratuity.
My queries are as follows-
Is the gratuity act applicable to the this start-up (since we have only 7 employees as on date)?
If it not applicable then what happens to the deduction on account of gratuity to the old employees?
Request to please answer
Currently in the start-up, we have 7 employees out of which 4 have been transferred from the parent company and have been working in the parent company for more than 5 yrs, the other 3 are new employees.
we plan to have around 50 employees by the year end and a total of 150 by the end of 2 yrs.
Currently, deductions are being made from our CTC for gratuity.
My queries are as follows-
Is the gratuity act applicable to the this start-up (since we have only 7 employees as on date)?
If it not applicable then what happens to the deduction on account of gratuity to the old employees?
Request to please answer