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PAYMENT OF GRATUITY ACT
New labour code: Can higher gratuity and social security costs under Social Security Code, 2020 be offset by employers by salary restructuring ?The recent notification of the Social Security (Central) Rules, 2026 under the Code on Social Security, 2020 marks a significant shift in I...- Tax-free allowances rise, so do employer costs: The salary structuring dilemma under the Social Security CodeEnhanced tax-free allowances under the Income-Tax Rules, 2026 can improve employees’ take-home pay. However, the expanded definition of “wa...
- Gratuity may rise under New Labour Code, but your income tax bill could tooThe Code on Social Security, 2020 expands the wage base for gratuity, potentially increasing payouts, but tax rules under the Income-tax Ac...
- Gratuity payment: Quitting your job before 5 years? You can still get gratuity; know howGratuity payment: Many employees who quit their jobs before five years of service think they cannot receive a gratuity. However, even if th...
- Gratuity calculation in CTC: How is gratuity calculated as a portion of employee's CTC in offer letter; Check formulaGratuity calculation in CTC: Gratuity is paid when an employee leaves the organisation after completing a minimum service period of five ye...
- Government employees can get gratuity up to Rs 25 lakh: What is tax-exempt gratuity for private sector, government employees?Tax-free gratuity limit for employees: The government has hiked the maximum amount of gratuity that a government employee can receive to Rs...
- Income tax exemption limit on gratuity doubled to Rs 20 lakh: Labour MinThe latest enhancement of tax exemption limit on gratuity follows a government notification issued on March 29, 2018.
- Tax-free gratuity ceiling raised to Rs 20 lakh for private sector employeesThe notification follows changes in the Payment of Gratuity Act which had empowered the government to fix the ceiling of the retirement ben...
- Parliament passes bill that lets govt double tax-free gratuity to Rs 20 lakhThe ceiling of tax-free gratuity stands enhanced to Rs 20 lakh from existing Rs 10 lakh for employee under the Payment of Gratuity Act.
- Lok Sabha passes bill to enable govt to double tax-free gratuity to Rs 20 lakhThe amendment will allow govt to enhance the ceiling of tax-free gratuity to Rs 20 lakh from existing Rs 10 lakh for employee under the Pay...
- Bill to increase maternity leave period & gratuity limit tabled in Lok SabhaThe gratuity limit for private sector is expected to be raised to Rs 20 lakh in line with that in the government sector.
- Bill floated in Lok Sabha to amend Payment of Gratuity ActGovt to notify the period of maternity leave and gratuity that can be availed by employees under a central law
- 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 ...
- Bill to double tax-free gratuity to Rs 20L in monsoon sessionBesides, the bill to amend the Payment of Gratuity Act also seeks to enable the central government to change the ceiling for tax-free gratu...
- Cabinet nod likely to double gratuity cap to Rs 20 lakh"The bill to amend the Payment of Gratuity Act is likely to be considered and approved by the Union Cabinet in its meeting," a source said.
- You may soon be eligible for up to Rs 20 lakh tax-free gratuity. Here's the lowdownAs 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...
- Tax-free limit for gratuity hiked to Rs 20 lakhPresently, an employee with at least five years of continuous service is eligible to get gratuity, which forms part of the overall salary p...
- Bonanza for employees receiving gratuityAny death-cum-retirement gratuity received by an employee in accordance with the prescribed scheme/rules, is not taxable. Investing in MIP,...
- Teachers to get Gratuity benefitsCollege and school teachers will soon be eligible for gratuity benefits after Parliament amends the Payment of Gratuity Act.
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