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Banking News

Revised 20 Lakhs Gratuity Payment To Bankers effective since 29th March 2018

The revised gratuity amount of Rs 20 lakhs is payable to bankers since 29th March 2018. The ministry of labour and employment...

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Banking News

Rs 20 Lakh Gratuity Payment Bill Passed in Lok Sabha

The Payment of Gratuity Amendment Bill and The Specific Relief Amendment Bill passes in Lok Sabha under chaos. The Gratuity bill be...

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Investment

How To Calculate Gratuity Benefit ?

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 No Tax on Gratuity for Details The Component of salary consider for calculation of Gratuity are Basic Pay  and dearness allowance. The length of service...

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Income Tax

Does Gratuity and PF Taxable ?

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 subject to the limits prescribed in this regard and PF receipts are exempt from tax, if the same are received from a recognized PF after...

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