Hi , I am planning to implement Gratuity fund in my Organization , Could you please clarify the following doubts ?
1- Is Gratuity is a part of employee CTC ? If yes can we show it in payslip as deduction ?
2- Is it mandatory for the employer to maintain a gratuity Fund with an Insurance company ?
3-We have almost 50 to 60 employees , Very few employees completes five years of service period with the organization so my employer wants to pay them directly at the time of separation . Not showing interest to maintain a gratuity scheme with any other Organization . Is it correct ?
Earliest reply will be highly appreciable , Thanks ....
1- Is Gratuity is a part of employee CTC ? If yes can we show it in payslip as deduction ?
2- Is it mandatory for the employer to maintain a gratuity Fund with an Insurance company ?
3-We have almost 50 to 60 employees , Very few employees completes five years of service period with the organization so my employer wants to pay them directly at the time of separation . Not showing interest to maintain a gratuity scheme with any other Organization . Is it correct ?
Earliest reply will be highly appreciable , Thanks ....