porkodisugan
1

what is bonus salary? and non saturated and saturated bonus??
From India, Tirupur
anandg
Dear Mr. Sarkar / Sonali
Gratuity Insurance policy is very much mandatory. If your company's salary structire does not have "DA" then neen not consider. All other extra allowance that you have mentioned in you post should not be counted for GRATUITY calculation.
Thanks,
Anand G

From India, Bangalore
sethupathy
54

Dear Anand,

Gratuity insurance policy is not yet made mandatory.

Please Refer Section 4 of the act

Compulsory insurance.

4A. (1) With effect from such date as may be notified by the appropriate Government in this

behalf, every employer, other than an employer or an establishment belonging to, or under the

control of, the Central Government or a State Government, shall, subject to the provisions of sub-section (2), obtain an insurance in the manner prescribed, for his liability for payment towards

the gratuity under this Act, from the Life Insurance Corporation of India established under the

Life Insurance Corporation of India Act, 1956 (31 of 1956) or any other prescribed insurer :

Provided that different dates may be appointed for different establishments or class of

establishments or for different areas.

Please note that no such notifications issued so far.

For Your Reference other than LIC few other insurance companies are also offer such Group Gratuity Insurance Policies.

Sethupathy

Excellent HR Services, Erode

From India, Coimbatore
HR_S.Sarkar
15

Dear Mr. Sethupathy, Thanks for your guidance. Please let me know why there is need for gratuity insurance. What are the benefits of gratuity insurance?
From India, New Delhi
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