Thu, Apr 18, 2024
Gratuity is a reward from the employer to the employee after the latter completes five years of service. Gratuity is calculated on the basis of an employee's last drawn salary and their number of years in employment.
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Fri, Mar 29, 2024
According to the Gratuity Payment Act 1972, any company, factory, or institution, where 10 or more employees have worked on any one day in the last 12 months comes under the Gratuity Payment Act. An employee is entitled to gratuity after five years of service. If an employee dies due to an accident or becomes disabled and is unable to work again, the gratuity amount is paid to their nominee or dependent.
Sat, Mar 09, 2024
7th Pay Commission: When the central government announced a four per cent hike in dearness allowance (DA) and dearness releif (DR) for its employees and pensioners, it also announced an increase in House Rent Allowance (HRA). Apart from these two changes, Centre also announced a big change in the form of a tax exemption limit on gratuity of a central government employee. The limit on tax exemption has been increased from Rs 20 lakh to Rs 25 lakh. However, equally important for an employee is to know their gratuity amount at the time of retirement. Know how much gratuity you will get if your basic salary is Rs 15000 or Rs 20,000.
Fri, Sep 16, 2022
According to gratuity act section 2A if someone does not complete his/her 5 years work duration in current company, is also eligible for gratuity. ig you want to know more here in this video know details in hindi
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