Dear All, Please give me the rules for paying graduity, our company is retail outlet comes under shops & establishments Thank u
From India, Hyderabad
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From India, Hyderabad
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Gratuity is governed by the Payment of Gratuity Act. The Payment of Gratuity Act calls for the payment of gratuity at 15 days' salary (Basic + DA) per year of service to an employee who leaves employment after at least 5 years of service. In case the gratuity is due on account of the death of the employee, 5 years of service are not required. Gratuity is paid at the rate of the salary at the time the employee leaves the establishment. Any fraction of a year exceeding six months shall be taken as one year for determining the period of service. Therefore, someone who has served for 8 years and 7 months will be eligible for 9 years of gratuity.
No amount should be deducted from the salary of the employee to fund the payment of gratuity. It is the sole responsibility of the employer.
Regards,
Madhu.TK
From India, Kannur
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4526No amount should be deducted from the salary of the employee to fund the payment of gratuity. It is the sole responsibility of the employer.
Regards,
Madhu.TK
From India, Kannur
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Dear,
You are advised to take a little time and refer to the Payment of Gratuity Act, 1972. We do not want to avoid the effort and expect others to read it on our behalf. After reading, if you have any doubts, please ask. You can also search the forum as it is readily available.
Regards,
J. S. Malik
From India, Delhi
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You are advised to take a little time and refer to the Payment of Gratuity Act, 1972. We do not want to avoid the effort and expect others to read it on our behalf. After reading, if you have any doubts, please ask. You can also search the forum as it is readily available.
Regards,
J. S. Malik
From India, Delhi
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Payment of Gratuity Act, 1972 & The Rules.ppt
Abstract of PAYMENT OF GRATUITY ACT & RULES, 1972, FORM U[1].doc