Gratuity - Small Firm

We are a small firm of around 30 employees. i want to set up a gratuity fund. please help. i know there is an option to go to LIC for this . but please explain how econiomical it is to go to LIC for such a small amount.

You have to contact LIC for Salary Saving scheme & It is useful to the company when the attrition is less only.
Narender

LIC has a gratuity insurance policy.If you take it employees need not worry about gratuity even if Co has no finance. Another advantage is if employee die LIC will pay gratuity for service which would have remained if he had not dead.
Varghese Mathew
09961266966

as the minimum wages in Delhi is almost Rs.8000/-. and as per the circular dated 28th May 2011 PF can not be deducted at a salary below the minimum wages. then in this case can we deduct PF on Rs. 6500/- as written in the PF Act. or we have to deduct PF on Rs. 8000/-

Hai Sir,
if a staff is twisting other workers for increment and other issues, how to terminate him.

Richa:
U can send the data to LIC, SBI or ICICI Prudential, etc & get a quote for a gratuity policy. Than u can choose whichever is lowest or further neogtiate with them.
However, for this i presume your company has growth plans with increase in headcount, as in my view a gratuity fund for 30 to 50 employees is not a very feasible idea & is too much a bother.