Latest Updates - What's New - Today's HotIT Exemption for Gratuity upto 20 Lakh – Gazette Notification Gazzette Notification: Exemption u/s 10 of Income Tax – Rs. 20 Lakh for Gratuity w.e.f. 29.03.2018 MINISTRY OF FINANCE(Department of Revenue(CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 8th March, 2019 (Income-tax) S.O. 1213(E).—In exercise of the powers conferred by sub-clause (iii) of clause […]
IT Exemption on Gratuity – 20 lakhs w.e.f. 29.3.2018
IT Exemption on Gratuity – 20 lakhs w.e.f. 29.3.2018 Income tax exemption for gratuity increased from Rs.10 lakhs to 20 lakhs w.e.f. 29.3.2018 Income tax exemption for gratuity enhanced Up to Rs. 20 lakhs Ministry of Finance has enhanced the income tax exemption for gratuity under section 10 (10) (iii) of the Income Tax Act, […]
FAQ for Central Civil Services – Gratuity
FAQ for Central Civil Services – Gratuity Frequently Asked Questions (FAQs) (Central Civil Services) 10.GRATUITY (10.1) When will the gratuity withheld at the time of retirement be released? The withheld amount of gratuity under sub-rule (5) of CCS(Pension) Rules, 1972, the mretiring Government employees, shall be paid immediately on production of “No Demand Certificate” from […]
Payment of Gratuity to the employees of CPSE
Payment of Gratuity to the employees of CPSE Payment of Gratuity to the employees of CPSEs-Clarifications Amendment in the Payment of Gratuity Act, 1972, regarding enhancement of ceiling of gratuity from Rs.10 lakhs to Rs.20 lakhs and effective date i.e. 29.03.2018. Authority: https://dpe.gov.in/
Gazette Notification on Gratuity: Amount, Effective Date and Maternity Leave
Gazette Notification on Gratuity: Amount, Effective Date and Maternity Leave “Gratuity Ceiling Amendment Notifications issued by Government of India regarding Upper limit of Gratuity Payment, Date on which come into force and Maximum Period of Maternity Leave… MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 29th March, 2018 S.O. 1419(E).—In exercise of the powers conferred […]
UFBU writes to Finance Minister regarding Gratuity Ceiling
UFBU writes to Finance Minister regarding Gratuity Ceiling UNITED FORUM OF BANK UNIONS (AIBEA-AIBOC-NCBE-AIBOA-BEFI-INBEF-INBOC-NOBW-NOBO) C/o, state Bank of India, LHO, Plot No-I, sector-17A. chandigarh – 160 017 Phone (office) : 172-4567142-4567042, 2702518 Fax-0172-2721716 Mobile-09417032548 [email protected] K K NAIR Chairman SANJEEV K. BANDUSH Convenor UFBU/2017/08 Date : 08-12-2017 To Shri Arun Jaitley Hon. Minister for Finance, […]
Retirement Gratuity Ceiling hiked to Rs.20 lakh for bank employees and officers
Retirement Gratuity Ceiling hiked to Rs.20 lakh for bank employees and officers – AIBEA Joint Ciruclar on Gratuity Ceilin CIRCULAR TO ALL UNITS & MEMBERS March, 2, 2017 Dear Comrades, Improvements in Gratuity under Gratuity Act Our units are aware that Gratuity is one of the important retirement benefits for the bank employees and officers. […]
Gratuity Benefits under National Pension System (NPS)
Gratuity Benefits under National Pension System (NPS) Press Information Bureau Government of India Ministry of Finance 03-May-2013 16:54 IST Gratuity Pay under New Pension System Death-cum-Retirement Gratuity is paid to Central Government employees under New Pension System (NPS) as it is paid under the old pension scheme. The monthly annuity under the New Pension System (NPS) […]
Rationalisation of Death Gratuity by 7th Pay Commission
Rationalisation of Death Gratuity by 7th Pay Commission The Commission has received representations pointing to a need for rationalization of current slabs for death gratuity, especially for the slab of 5 to 20 years of qualifying service in which family pensioners are stated to be placed at a disadvantageous position. Analysis and Recommendations : As per Rule 50 […]
7th CPC increased Gratuity Ceiling limit – 20 lakh from 1.1.2016
7th CPC increased Gratuity Ceiling limit – 20 lakh from 1.1.2016 Enhancement in the Gratuity Ceiling and its Indexation The Commission recommends enhancement in the ceiling of gratuity from the existing ₹10 lakh to ₹20 lakh from 01.01.2016. A number of representations have been received by the Commission stating that there is a need to revise […]