The enhancement of gratuity limit will definitely benefit the employees getting higher salary.
It is a fact that the salary of majority employees working in a private organisation is not enough and it generally varies from Rs.15,000 to Rs.30,000 and in such case the enhancement of gratuity amount from 3.5L to 10L is not going to be benefited more to the majority of the employees. In order to achieve Rs.10 L gratuity the salary of an employee shoud be Rs.50,000(approx).
In view of above my appeal to the Ministry of Labour & Employment as well as with Trade Unions to put efforts to restructure/amend the method of gratuity calculation i.e. the gratuity should be paid on the basis of at least 30 days per completed year of service instead of 15 days per completed year of service at present which is prevailing since long(as per gratuity payment act 1972) so that even if the salary is less, mojority of the employees will be benifited after serving the organisation for a long period.
It is a fact that the salary of majority employees working in a private organisation is not enough and it generally varies from Rs.15,000 to Rs.30,000 and in such case the enhancement of gratuity amount from 3.5L to 10L is not going to be benefited more to the majority of the employees. In order to achieve Rs.10 L gratuity the salary of an employee shoud be Rs.50,000(approx).
In view of above my appeal to the Ministry of Labour & Employment as well as with Trade Unions to put efforts to restructure/amend the method of gratuity calculation i.e. the gratuity should be paid on the basis of at least 30 days per completed year of service instead of 15 days per completed year of service at present which is prevailing since long(as per gratuity payment act 1972) so that even if the salary is less, mojority of the employees will be benifited after serving the organisation for a long period.
dear all,
the president of india has given consent to the payment of gratuity(ammendedment)act 2010 which has been notified in the gazette of india ,extra ordinary gazette no. 20 of 18th may 2010 No. 20 part II section I.
further the date of effect shall be 24th may 2010 as notified vide gazette notification(extra ordinary) no. 1007 Part II section 3 dated 24 th May 2010 i am attaching both the copies herewith for your info and record
warm regards to all of you
arun aggarwal
From India, Delhi
the president of india has given consent to the payment of gratuity(ammendedment)act 2010 which has been notified in the gazette of india ,extra ordinary gazette no. 20 of 18th may 2010 No. 20 part II section I.
further the date of effect shall be 24th may 2010 as notified vide gazette notification(extra ordinary) no. 1007 Part II section 3 dated 24 th May 2010 i am attaching both the copies herewith for your info and record
warm regards to all of you
arun aggarwal
From India, Delhi
Happy to note the notification of graduity act amendment increasing the exempt limit from Rs. 3.5 L to Rs. 10 L which is a very welcome one mainly for private sector employee. However, it is informed the fruit of this would be available to employees only if the same is amended under income tax act, till such time employee cannot get this benefit. Can any one clarify the correct legal position.
From India, Hyderabad
From India, Hyderabad
Dear You can take the help of any Central Govt. office for this printed Gazette notification. Regareds, R N KHOLA
From India, Delhi
363From India, Delhi
Not only the central government and Government Undertakings employees got the benefit of the new gratuity ceiling ie Rs.10 lacs with effect from 01/01/2006 but the Reserve Bank Of India employees also got this benefit from the same date ie 01/01/2006. Why the Employees of the Nationalised Banks which has the the status of the Government Undertakings will not get the benefit of the enhaced gratuity with effect from 01/01/2006.
From India, Pune
From India, Pune
Accepting the 2nd PRC of PSU employees DPE has increased the limit of Gratuity to Rs.10 lakhs w.e.f 1.1.2007. Central Govt. vide its notification dated 24th May 2010 has notified the date of effect of enhanced ceiling of Gratuity of Rs.10 lakhs as 24th May 2010. Will the Central Government reconsider the matter and issue necessary amendment regarding the effective date of enhanced ceiling of Gratuity so as to benefit a large number of retired employees from 1.1.2007 onwards
From India, Delhi
From India, Delhi
I am Boga Rajaiah. I want to read the Gazette Publication but nowhere I am getting. Only coments / inputs are taking place as postings. The postings are comingup for reading. Hence kindly provide a copy of amendment notification for downloading a copy at the earliest or let me know how to get it?.
From India, Karimnagar
From India, Karimnagar
Dear Member,
This thread relates to The Payment of Gratuity Act,1972 & therefore it is hereby advised to post your query on similar thread or separate thread. Members have already provided this amendment notification on this site. You can download search under the heading 'Amendment in I D Act, 1947' & you will get the same.
With Regards,
R.N.Khola
From India, Delhi
This thread relates to The Payment of Gratuity Act,1972 & therefore it is hereby advised to post your query on similar thread or separate thread. Members have already provided this amendment notification on this site. You can download search under the heading 'Amendment in I D Act, 1947' & you will get the same.
With Regards,
R.N.Khola
From India, Delhi
Dear friends
I want to know when the gratutity act was amended to provid the gratutity to the emploees of self financing educational institutions ie both teaching and non-teaching employees of the self financing colleges, universities. could you please give a copy of the amended copy of the gratutity act.
thank you
From India, Coimbatore
I want to know when the gratutity act was amended to provid the gratutity to the emploees of self financing educational institutions ie both teaching and non-teaching employees of the self financing colleges, universities. could you please give a copy of the amended copy of the gratutity act.
thank you
From India, Coimbatore
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