our company PF enrollment 01.01.2007 now management has been decided to pay gratuity to employees but there is no provisions till the date.
From India, Delhi
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1From India, Delhi
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If the query pertains to gratuity (which it seems), do not worry about the provision if your establishment is covered under the Gratuity Act of 1972 because the Act grants this right to an employee but not the employer. The Gratuity Act is applicable to every factory, shop, and establishment employing ten or more employees.
Regards,
B. Saikumar
Mumbai
From India, Mumbai
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Regards,
B. Saikumar
Mumbai
From India, Mumbai
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Apart from Mr. Sai Kumar's advice, you can make provisions now. For those who have left, you can pay the gratuity as per the act and book it directly in the books of accounts. For those who come under the Gratuity but are still continuing the job, you can make provisions for the same in your books of accounts starting from this year. It is advisable to contact LIC, which provides good proposals for Gratuity Plans.
From India, Ahmadabad
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From India, Ahmadabad
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Online payment of PF mandatory from 1.1.2016.pdf
Payment of Gratuity Act, 1972 & The Rules.ppt
THE PAYMENT OF GRATUITY ACT 1972.doc