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The revised gratuity amount of Rs 20 lakhs is payable to bankers since 29th March 2018. The ministry of labour and employment vide gazette notification dated 29th March 2018 has raised the ceiling on the amount of gratuity payment under section 4 of the Payment of Gratuity Act, 1972 from existing Rs 10 lakhs to […]
The Payment of Gratuity Amendment Bill and The Specific Relief Amendment Bill passes in Lok Sabha under chaos. The Gratuity bill be now placed in Rajya Sabha for approval. Passing of Gratuity bill will enable the Central government to provide tax-free gratuity of Rs 20 lakh to the organised sector workers including Public Sector Bank […]
How To Calculate Gratuity Benefit ? – Gratuity is being paid by all the establishment in India having more than 10 employees and fall under gratuity act. Gratuity is the component of salary paid to employees after five years of continuous service in organization. The Amount paid under Gratuity are Exempted under Income Tax. Read […]
Does Gratuity and PF Taxable ? – Whether Gratuity paid to the employees on retirement or leaving the jobs are taxable as per Income Tax rule ? As per the existing law Government employee Gratuity and PF (Provident Fund) receipts on retirement are exempt from tax. In the hands of non-Government employee, gratuity is exempt […]
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