Income Tax : Learn about the tax treatment of key retirement benefits in India, including gratuity, pension, leave encashment, provident fund, ...
Income Tax : Detailed summary on salary, allowances, perquisites, pension, gratuity, HRA, standard deduction, and related tax exemptions under ...
Income Tax : This guide breaks down the complete taxation of salary income in India—covering allowances, perquisites, retirement benefits, an...
Corporate Law : Efficient gratuity trust management involves record-keeping, claim settlement, investment tracking, regular trustee meetings, lega...
Corporate Law : Explore the complexities of including allowances and upper caps in gratuity regulations. Learn from legal precedents and understan...
Corporate Law : Whether Government is considering to increase the Gratuity payment from 15 days’ salary for each completed year to 30 days’ sa...
Corporate Law : The Government has issued Notification the same day wherein gratuity limit has been increased from Rs.10 lakhs to Rs.20 lakhs un...
Corporate Law : Decision:The Payment of Gratuity (Amendment) Bill, 2018 has been passed by Lok Sabha on 15th March, 2018 and by the Rajya Sabha on...
Corporate Law : The Payment of Gratuity (Amendment) Bill, 2018 has been passed by parliament today. The bill ensures harmony amongst employees in ...
Corporate Law : Clause 3 of the Bill seeks to amend the provision relating to calculation of continuous service for the purpose of gratuity in cas...
Income Tax : ITAT Mumbai dismissed revenue's appeal against Thirumalai Chemicals, allowing gratuity, bad debts, and other expenses while also a...
Corporate Law : SC rules criminal conviction not needed for gratuity forfeiture if misconduct involves moral turpitude. Upholds forfeiture in frau...
Corporate Law : Some workmen had continued with IIT-Bombay through multiple contractors, therefore, for the limited purpose of payment of gratuity...
Income Tax : ITAT Nagpur quashed the penalty on Ravindra Kharche, finding no misreporting of income due to bona fide claims regarding gratuity ...
Income Tax : Analysis of ITAT Pune's criticism of the Assessing Officer's hasty penalty imposition at a 200% rate without proper application of...
Corporate Law : DoPPW clarifies that gratuity under CCS (Payment of Gratuity under NPS) Rules, 2021 is payable only upon retirement/absorption, no...
Corporate Law : Government of India enhances maximum limit of gratuity for Central Government employees to Rs 25 Lakh, implementing Seventh CPC re...
Corporate Law : Explore the Karnataka Compulsory Gratuity Insurance Rules 2024 introduced by the Government of Karnataka. Learn about coverage, co...
Income Tax : Govt increases Gratuity exemption limit u/s Section 10(10)(iii) to ₹ 20 lakhs from existing Rs. 10 Lakh vide Notification No. ...
Corporate Law : (1) This Act may be called the Payment of Gratuity (Amendment) Act, 2018. (2) It shall come into force on such date as the Central...
Since the expression ‘salary’ included benefit of leave encashment which was nothing but salary for the unavailed leave to the credit of the employee, therefore, the condition that carry forward of balance privilege leave, was barred and requiring employees to seek encashment from their previous employer was an arbitrary and unconscionable condition.
Understanding the Basics of Gratuity Learn about the applicability of the Payments of Gratuity Act 1972 and the benefits it offers to employees.
Held that an employee holding a civil post under a state is eligible for exemption towards amount of gratuity received under section 10(10) of Income Tax Act
Sunil Kumar Jian and Others Vs Sundaresh Bhatt and Others (Supreme Court) Whether the amounts of provident fund, gratuity, and pension fund should be separated from the liquidation and other rights of workmen in liquidation process The Hon’ble Supreme Court in the case of Sunil Kumar Jian and Others v. Sundaresh Bhatt and Others (decided […]
High Court favoured an order passed by the Controlling Authority/ Appellate Authority under the Payment of Gratuity Act, 1972, which directed government bodies to pay gratuity amount claimed by former employees from the time they were employed as daily wage earners till their employment was regularised.
Ashvinkumar Ramniklal Jani Vs State of Gujarat (Gujarat High Court) Apex Court in the case of Gangahanume Gowda Vs. Karnataka Agro Industries Corporation Ltd. reported in (2003) 3 SCC 40 has decided the interest on delayed payment of gratuity. It is also held that the same is mandatory and not discretionary. When it is not […]
Union Bank Of India Vs Sh D.C. Chaturvedi (Delhi High Court) Section 4(6)(a) of the Act, however, provides that the gratuity of an employee, whose services may have been terminated for the reasons as specified therein, can be forfeited to the extent of damage or loss so caused. The relevant provision reads as under: “(6) […]
Whether Government is considering to increase the Gratuity payment from 15 days’ salary for each completed year to 30 days’ salary for all employees of Government sector and Private sector;
Regulation 72(1) provides that an officer or employee shall be eligible for payment of gratuity either as per the provisions of the Act of 1972 or as per Sub-regulation (2) whichever is higher. Thus, it is beyond doubt that an employee must receive gratuity whichever is more beneficial either under the Act of 1972 or under the Regulations framed by the bank. However, this is not the same thing as to suggest that an employee can choose computation of gratuity under one statute and seek benefits of other provisions under another statute. As we have noticed, the scheme of gratuity under the Act of 1972 and under the regulations framed by the bank are different.
Gratuity is that part of the salary of an employee when he received to employer. When leaving job. The payment of Gratuity act, 1972.means any person employed on wages in any establishment factory,mine, oilfield, plantation, port, railway company or shop or establishment in state which 10 or more persons are employed on any day of […]
