GRATUITY MEANING
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...
- New social security code likely to hike retirals, cut take home pay for salaried
While the intention of the Code on Social Security is to increase the retiral benefits of the employee, this could impact the take-home sal...
- 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...
- Compulsory issuance of appointment letter: What does it mean for employees?
An appointment letter would provide a sort of documentary evidence and would help them claim their rights and benefits due to employees. An...
- 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...
- Code on Wages 2019: Soon, you will get full and final payment just 2 days after you leave job
The Code of Wages, 2019 will potentially ensure timely payment of dues to employees.
- 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.
- 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.
- Six lessons to be a financially smart
It is important that banks render a service and there are various charges for it. Banks offer a wide range of services and most have a cost...
- The art of the last-minute vacation! Here's everything you need
Dwell on these handy pointers to save time and money while booking for last-minute holiday travel.
- 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...
- To retain fleeing agents, LIC hikes gratuity to Rs 3 lakh
LIC gets 94 per cent of its revenue through the agency channel though it also sells online and through banassurance channels.
- How to revamp salary package to increase net pay
An easy way to reduce tax liability is to cut basic pay and adjust it as perks. If you have a special allowance component, adjust it as a t...
- New investment norms mean no stock market play for PF investments
Industry experts feel the new investment allocations could boost annual returns for provident funds by 0.1% to 0.2%, at current market rate...
- Your gratuity may just get bankruptcy protection
Cos may be asked to create a separate fund for gratuity payments so that savings are not wiped out.
- Higher pension, gratuity outgo to hit banks' net
Banks are worried that higher outgo due to pension and gratuity would dent their profits this year.
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