Gratuity is a retirement benefit paid by an employer to an employee for the services rendered during the period of employment. The payment of gratuity is governed by the Payment of Gratuity Act, 1972, and is mandatory for all employers who have 10 or more employees. In this article, we will discuss everything you need … Read More “All you need to know about Gratuity and Tax Implications” »
The Payment of Gratuity Act, 1972 is a social security legislation that aims to provide financial assistance to employees in recognition of their long and continuous service to an organization. The Act applies to employees who work in factories, mines, oilfields, plantations, ports, railways, shops or other establishments with 10 or more employees. In this … Read More “Payment of Gratuity Act, 1972: An Overview” »
The Payment of Gratuity Act was enacted in August 1972. The Act only applied to a small number of establishments prior to the amendment. Previously, those who qualified as “employees” and received gratuity were subject to the provisions of Section 4 of the Payment of Gratuity Act and Section 2(E) of the Act. The Payment … Read More “What is the Gratuity Act Amendment of 2018?” »
The gratuity is an important part of your salary that most people are unaware of. You would receive gratuities from your employer as a reward for the services you have provided. When you leave your job, you receive a kind of retirement benefit and Social Security benefit. Gratuities provided by employers, whether private or public, … Read More “Save Thousands with the Gratuity Calculator for Death Cases!” »
