ELIGIBILITY TO RECEIVE GRATUITY
How to calculate gratuityAs per the law, the gratuity payable by an employer to the employee is calculated using a formula. Remember, the gratuity is payable only i...
- What are the gratuity payment rules?
There are certain rules that make an employee eligible to receive gratuity before the age of retirement/superannuation or resignation of an...
- In Talks With Bhavna Udernani On The Employment Scenario In Post-Pandemic India
- Incomes that are exempted under the new tax regime
Though an individual cannot claim certain deductions in the new tax regime, however, a certain type of incomes remain tax-exempted under th...
- New rule coming? You may soon be eligible for gratuity even without 5 years on the job
Under current rules, an employee has to work for a company for five continuous years to be eligible for gratuity payment. According to repo...
- Covid impact: BookMyShow trims business, 270 hit by layoffs & furloughs
The company has been forced to downsize due to the “unfavourable environment,” said Ashish Hemrajani, chief executive of BookMyShow, in an ...
- Tax queries: Exemptions, deductions you will not get in new income tax regime
Every week, an expert selected by ET answers queries from our readers on income tax and other levies.
- How Social Security Code 2019 will impact employees' gratuity, protect their EPF dues
The code provides for a uniform definition of "wages" across all legislations covered. This is aligned with the definition provided under t...
- Tax queries: Can you claim tax refund on TDS deducted by employer on gratuity?
Dilip Lakhani Senior Chartered Accountant, answers queries from our readers on income tax and other levies.
- Tax queries: How much of my gratuity amount is tax-exempt?
The maximum limit amount of gratuity under the Payment of Gratuity Act, 1972 has been enhanced from Rs 10 lakh to Rs 20 lakh vide notificat...
- Parliament passes bill that lets govt double tax-free gratuity to Rs 20 lakh
The ceiling of tax-free gratuity stands enhanced to Rs 20 lakh from existing Rs 10 lakh for employee under the Payment of Gratuity Act.
- Budget 2018: Five hot tips that will lead to cool tax savings
Use these five tips to save on tax this financial year.
- How to calculate taxable portion of gratuity
Currently, maximum tax-exempt gratuity is Rs 10 lakh. The government has tabled the Payment of Gratuity (Amendment) Bill, 2017 to raise the...
- What is gratuity?
It is a defined monetary benefit plan where no contributions are made by the employee. The employer pays this to employee if he has worked ...
- Who really gains from the proposed increase in tax-free gratuity limit to Rs 20 lakh?
Proposed increase in tax free gratuity limit won't benefit bulk of employees immediately. Here's why.
- Cabinet clears Bill to raise tax-exempt gratuity limit to Rs 20 lakh: Here's how you will be impacted
An employee is eligible to receive gratuity only if he has completed at least five years of continuous service with an organisation without...
- You may soon be eligible for up to Rs 20 lakh tax-free gratuity. Here's the lowdown
As per the Payment of Gratuity Act 1972, an employee can receive gratuity only if he has completed at least five years of continuous servic...
- Is it time to discard 'minimum five years of service' gratuity rule?
As per CTC rules, gratuity is a part of your salary. That means an employee, who leaves before completing 5 years, is forced to give up a p...
- Changing jobs? Here's how to minimise tax impact
From correct deduction of TDS to payment of advance tax, here’s how to deal with various taxation issues that may arise when you switch job...
MORE NEWS
