Dear friends,
I am attaching a copy of the Payment of Gratuity Amendment Bill 2010 as introduced in Parliament on 22.4.2010 for your information. The Bill provides for an increase in the ceiling for gratuity from Rs. 3.50 lakhs to Rs. 10 lakhs.
Regards,
From India, Malappuram
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1446I am attaching a copy of the Payment of Gratuity Amendment Bill 2010 as introduced in Parliament on 22.4.2010 for your information. The Bill provides for an increase in the ceiling for gratuity from Rs. 3.50 lakhs to Rs. 10 lakhs.
Regards,
From India, Malappuram
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Additional Info Payment of Gratuity Act amended to include "TEACHER". Accordingly, Teacher are also eligible for Gratuity as per Act.
From India, Tiruchchirappalli
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From India, Tiruchchirappalli
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Yes, it is 100% authentic. We all know the working speed of government departments and hence no comments. But it is just a bill. It will be effective from such date as may be notified by the government after it is converted into an act.
From India, Malappuram
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From India, Malappuram
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Your worry is as good as anyone who retired after 1997. The date of the last amendment was in 1997. Those who retired after more than 35 years of service could only get one-third of the actual gratuity. My proposals are: (1) the Payment of Gratuity Act must be amended every five years, (2) just like pension, the payment of gratuity must be proportionate to the years of service - with 30 years as full eligible service and anything less in proportion to that. There is no point in fixing a ceiling as years go by. Since in the industrial sector there is no pension apart from the EPF pension and the bonus is limited to the rock bottom, gratuity is the only amount that an employee gets on superannuation.
Leons Augustin
From India, Thiruvananthapuram
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Leons Augustin
From India, Thiruvananthapuram
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Dear There is an error opening this file . The file is damaged & couln’t be repaired . please send the Payment of Gratuty amendment,2010 again ( the attached file ). thanks, ak sharma
From India, Pune
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From India, Pune
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I have not yet come across any news about an amendment in the Gratuity Act enhancing the limit from 3.5 lac to 10 lac being approved by the parliament. Yes, today on the 29th of April, the Finance Bill has been passed with unanimous approval. Can anybody tell me about the approval of the amendment in the Gratuity Act?
From India, Delhi
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From India, Delhi
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Whether the Act has been passed. What is the effective date from which the new ceiling is applicable
From India, Madras
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From India, Madras
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Hi there,
The bill was introduced and passed in the Lok Sabha on 3rd May 2010. But can anyone guess/imagine from which date onwards it will be effective? What could be the possibility of it getting affected with retrospective effect from an earlier date?
Regards,
Rmcham
Please see the extract from Lok Sabha Bulletin Part 1 on 3rd May 2010 2:35 P.M.
The Payment of Gratuity (Amendment) Bill, 2010
Time Taken: 3 mins.
The motion for consideration of the Bill was moved by Shri Mallikarjun Kharge.
The motion for consideration was adopted, and clause-by-clause consideration of the Bill was taken up.
Clause 2 was adopted.
Clause 1 was adopted.
The Enacting Formula and the Long Title were also adopted.
The motion that the Bill be passed was moved by Shri Mallikarjun Kharge.
The motion was adopted, and the Bill was passed.
From India, Kochi
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The bill was introduced and passed in the Lok Sabha on 3rd May 2010. But can anyone guess/imagine from which date onwards it will be effective? What could be the possibility of it getting affected with retrospective effect from an earlier date?
Regards,
Rmcham
Please see the extract from Lok Sabha Bulletin Part 1 on 3rd May 2010 2:35 P.M.
The Payment of Gratuity (Amendment) Bill, 2010
Time Taken: 3 mins.
The motion for consideration of the Bill was moved by Shri Mallikarjun Kharge.
The motion for consideration was adopted, and clause-by-clause consideration of the Bill was taken up.
Clause 2 was adopted.
Clause 1 was adopted.
The Enacting Formula and the Long Title were also adopted.
The motion that the Bill be passed was moved by Shri Mallikarjun Kharge.
The motion was adopted, and the Bill was passed.
From India, Kochi
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Recently, the Payment of Gratuity Amendment Bill has been passed by the parliament, and it shall come into force on such date as the central government may, by notification in the official Gazette. Does it mean that the effective date of this bill is on the date of notification or any retrospective date?
K.V. Aravindakshan
From India, Kochi
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K.V. Aravindakshan
From India, Kochi
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Hi,
I recently retired from a Public Sector Unit. I was eligible for a gratuity of Rs. 5,31,000 as per the rules, but because of the ceiling existing as of 05-05-2010 (the date on which the proceedings were awarded), I could only receive Rs. 350,000.
The newspapers on 06-05-2010 reported that the proposed amendment to the Gratuity Act to raise the ceiling to Rs. 10 lakhs instead of the original Rs. 3.5 lakhs has now been approved. However, the amended Act was not available in my search.
Please tell me:
(1) Where can I get a PDF file of the new Gratuity Act?
(2) When does it become operative?
(3) Will it apply with retrospective effect in my case of retirement on 31-03-2010?
Thanks,
Venugopalan K M.
From India, Kochi
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I recently retired from a Public Sector Unit. I was eligible for a gratuity of Rs. 5,31,000 as per the rules, but because of the ceiling existing as of 05-05-2010 (the date on which the proceedings were awarded), I could only receive Rs. 350,000.
The newspapers on 06-05-2010 reported that the proposed amendment to the Gratuity Act to raise the ceiling to Rs. 10 lakhs instead of the original Rs. 3.5 lakhs has now been approved. However, the amended Act was not available in my search.
Please tell me:
(1) Where can I get a PDF file of the new Gratuity Act?
(2) When does it become operative?
(3) Will it apply with retrospective effect in my case of retirement on 31-03-2010?
Thanks,
Venugopalan K M.
From India, Kochi
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I thank you very much for having provided with a valuable information. I request you to kindly inform me whether Rs 10 lakhs is exempted from income tax? 2. if so from which date?
From India, Madras
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From India, Madras
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Dear Sir,
I am serving as a senior executive with a Public Sector Bank and am retiring on May 31, 2010. The Payment of Gratuity Bill was passed by both houses of Parliament by May 7. However, there has been no news regarding the President's signatures since then. Given that the bill had support from all parties, why is Madam President taking so long to sign, and when can we expect the notification to come? Additionally, will it be effective from the date of signing by the President as it converts into an Act, i.e., law on that day, or from the date of notification? Please clarify.
I shall await your response as time is running out.
RK KAPOOR
From India, Delhi
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I am serving as a senior executive with a Public Sector Bank and am retiring on May 31, 2010. The Payment of Gratuity Bill was passed by both houses of Parliament by May 7. However, there has been no news regarding the President's signatures since then. Given that the bill had support from all parties, why is Madam President taking so long to sign, and when can we expect the notification to come? Additionally, will it be effective from the date of signing by the President as it converts into an Act, i.e., law on that day, or from the date of notification? Please clarify.
I shall await your response as time is running out.
RK KAPOOR
From India, Delhi
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Dear friends,
The Bill received assent from the President on 17th May 2010 and has now become an Act. However, it will come into effect on a date that will be notified by the government. We will need to wait for the notification.
Thanks
From India, Malappuram
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The Bill received assent from the President on 17th May 2010 and has now become an Act. However, it will come into effect on a date that will be notified by the government. We will need to wait for the notification.
Thanks
From India, Malappuram
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Dear friends, I am attaching copy of Payment of Gratuity Amendment act circular No- 56 2010 published on 04.5.2010 for your information may be this can help you. Regards,
From India, Ranchi
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From India, Ranchi
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Many HR friends have been circulating the Bill as it was presented to the Parliament. What's actually needed is information on whether the bill has been notified and if not, when it shall be done. Also, whether the effective date for enhanced gratuity will be retrospectively 1st Jan 2006 for Central Govt employees and 1st Jan 2007 for some PSUs who have implemented the wage revision.
From India, New Delhi
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From India, New Delhi
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As per the notification issued by the government, the increase in the ceiling for gratuity from Rs. 3.50 lakhs to Rs. 10 lakhs is effective from 24.5.2010. A copy of the notification is attached for the information of all.
Thanks
From India, Malappuram
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Thanks
From India, Malappuram
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How to Calculate Gratuity After This Amendment?
I came to know from a friend that now the basic salary is multiplied by a certain percentage and then by the number of years to calculate gratuity. Please help as I am totally confused.
From India, Bangalore
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I came to know from a friend that now the basic salary is multiplied by a certain percentage and then by the number of years to calculate gratuity. Please help as I am totally confused.
From India, Bangalore
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Dear Member,
Do not be confused. The method of calculation of gratuity is the same as it was earlier, as provided in section 4 of the Payment of Gratuity Act, 1972.
Regards,
R.N.Khola
From India, Delhi
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Do not be confused. The method of calculation of gratuity is the same as it was earlier, as provided in section 4 of the Payment of Gratuity Act, 1972.
Regards,
R.N.Khola
From India, Delhi
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For gratuity calculation, please refer to section 4 of the Payment of Gratuity Act, 1972.
Regards,
R.N.Khola
Request for Detailed Information on Gratuity Calculation
Please help me out and provide detailed information on how gratuity is calculated.
From India, Delhi
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Regards,
R.N.Khola
Request for Detailed Information on Gratuity Calculation
Please help me out and provide detailed information on how gratuity is calculated.
From India, Delhi
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Dear Member, This amendment has already been made effective from 24.05.2010. Attachment of this notification is there on this page itself. Plz go through it. Regards, R N KHOLA
From India, Delhi
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From India, Delhi
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Please correct me if I am wrong. Payment of gratuity calculation for an employee is 45 days of their last payment in their organization multiplied by the number of years of service. If the organization is going to close without giving any notice to the employee, please also send me any other dues to recover from the organization.
From India, Mumbai
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From India, Mumbai
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Payment-of-Grat uity-Amendment- Bill-2010.pdf