Gratuity Ceiling limit Increased to 20 lakh from Jan 2016 The 7th Pay Commission recommends increasing the ceiling of gratuity from ₹10 lakh to ₹20 lakh, effective from 01.01.2016. The Department of Pension and Pensioners Welfare suggests indexing gratuity with the amount of DA admissible at the time of retirement. The Commission agrees and also … Read more
Gratuity Benefits under NPS | National Pension System Gratuity Benefits are an essential component of the National Pension System (NPS), which provides retirement benefits to employees in India. Under the NPS, employees receive a lump sum amount upon retirement, which includes contributions made by the employer and the employee over the years, as well as … Read more
Gratuity Benefits for CG Employees Covered by NPS The clarification statement aims to shed light on the benefit of retirement gratuity when it comes to mobility from one organization to another. Retirement gratuity is a significant financial incentive that provides employees with a sense of security and stability during their post-retirement life. When an individual … Read more
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 … Read more
Calculation of Gratuity and Encashment Leave Central Government employees retired during the period from January 2020 to June 2021 – Calculation of Gratuity and Cash payment in lieu of Leave – Finance Ministry OM dated 07.09.2021 PDF Download No.1(5)/E.V/2020 Government of India . Ministry of Finance (Department of Expenditure) North Block, New Delhi Date the … Read more
Retirement and Service Gratuity – Calculation, Ceiling, Qualifying Service and Rates What is Gratuity? Gratuity is a bulk amount paid by the employer to his/her employee for his/her service at the time of retirement under the Gratuity Act 1972. 7th Pay Commission Gratuity Death, Retirement, and Service Gratuity for CG Employees What is Gratuity in … Read more
Revision of Gratuity and Severance Amount to GDS Revision of GDS Gratuity and Severance Amount effective date changed to 1.7.2018 No.17-31/2016-GDS Government of India Ministry of Communications Department of Posts (GDS Section) Dak Bhawan, Sansad Marg, New Delhi – 110001 Dated: 01.07 .2019 Office Memorandum Subject : Implementation of recommendations of GDS Committee on Social … Read more
7th Pay Commission Committee recommendations on Gratuity Ceiling for Central Government Employees All Central Government employees should know about the eligibility criteria of Gratuity. There are commonly four types of Gratuity in Central Government Services. 1. Service Gratuity, 2. Retirement Gratuity, 3. Death Gratuity and 4. Residuary Gratuity. 7th Central Pay Commission recommended to enhance … Read more
IT 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 … Read more
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, … Read more