Dear All,
I am working in a manufacturing organization. We want to reduce our liability of employees by paying gratuity during service. If we pay gratuity for past years, there should not be any claim regarding gratuity if the salary increases in the current year.
From Pakistan, Lahore
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I am working in a manufacturing organization. We want to reduce our liability of employees by paying gratuity during service. If we pay gratuity for past years, there should not be any claim regarding gratuity if the salary increases in the current year.
From Pakistan, Lahore
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Hi,
Please go through the link below to get details on gratuity: https://www.citehr.com/133633-how-pa...regulated.html.
With Regards,
Priya
From India, Bangalore
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25Please go through the link below to get details on gratuity: https://www.citehr.com/133633-how-pa...regulated.html.
With Regards,
Priya
From India, Bangalore
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As per law, payment of gratuity shall be calculated on the last drawn wages/salary. You can not make new policies on gratuity. pon
From India, Lucknow
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From India, Lucknow
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You may go for LIC's Group Gratuity Scheme. They work on a very low premium, i.e., around 2.5% of the annual basic salary as compared to the gratuity act, i.e., 4.81% of the total annual basic salary. This will reduce your headache of arranging funds for gratuity. Additionally, in the case of death, LIC pays for gratuity until the age of retirement. You can inquire about this scheme at your local LIC office.
From India, Nagpur
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From India, Nagpur
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Dear Javed Ji,
In our country, gratuity is payable only at the end of the service, not during the service. This is a universal concept, so in Pakistan also, the same basic principle would be applicable. Even if you pay gratuity to your employees during service at the current rate, at the termination of service of an employee, gratuity would be payable as per your gratuity act. The option of a group insurance policy of LIC of India is very good in India, but it may not work in Pakistan. You may check similar options in your country.
Thanks and regards,
From India, Pune
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In our country, gratuity is payable only at the end of the service, not during the service. This is a universal concept, so in Pakistan also, the same basic principle would be applicable. Even if you pay gratuity to your employees during service at the current rate, at the termination of service of an employee, gratuity would be payable as per your gratuity act. The option of a group insurance policy of LIC of India is very good in India, but it may not work in Pakistan. You may check similar options in your country.
Thanks and regards,
From India, Pune
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