As per the draft rules of the Code of Wages, 2019, the basic salary component, which is used to calculate gratuity and provident fund contributions, have to be at least 50 percent of an employees' total pay or compensation
The ceiling of gratuity amount under the Payment of Gratuity Act, 1972, has been raised from time to time
Doubling tax-free gratuity limit to Rs 20 lakh will benefit PSU, private sector employees: Arun Jaitley
Finance Minister Arun Jaitley said on Tuesday the decision to double tax-free gratuity limit to Rs 20 lakh will benefit public and private sector employees
75% PF withdrawal on being unemployed for a month: Provident Fund was never intended as an unemployment dole
If PF balance should remain impervious to court attachment orders, it should also remain impervious to being viewed as a low-hanging fruit to be plucked whenever one pleased.
Money management alert: Midcourse withdrawals from retirement funds a sub-optimal solution for midlife blues
A suitable amendment in the law would be conducive to checking one's tendency to dip into one’s retirement funds at the drop of a hat.
Parliament passes Bill doubling limit of tax free gratuity to Rs 20 lakh, Narendra Modi says it will 'benefit lakhs of Indians'
The Parliament on Thursday passed the Payment of Gratuity (Amendment) Bill, 2017, paving the way for doubling the limit of tax free gratuity.
Parliament clears key laws promising Rs 20-lakh tax free gratuity, more than 12 days maternity leave
The amendment to the payment of gratuity law comes in the backdrop of Maternity Benefit (Amendment) Act, 2017 enhancing the maximum maternity leave period to 26 weeks.
Payment of Gratuity Bill passed: Law allows govt to change tax-free gratuity amount, maternity leave with executive order
Parliament on Thursday passed a key bill that will empower the government to fix the amount of tax-free gratuity and the period of maternity leave with an executive order.
Payment of Gratuity Amendment Bill 2017 is likely to be passed in the forthcoming Budget session, which will make formal sector workers eligible for tax-free Rs 20 lakh gratuity
This is a wonderful gesture on the part of the Government. It’s rewarding and incensing the honest tax payers
Hike in gratuity upper limit to Rs 20 lakh: Why Narendra Modi govt's decision will benefit only a minuscule section
The Modi government like its predecessors is also guilty of tinkering with the upper limit which leaves bulk of the toiling employees in the cold
Cabinet clears Bill to double tax-free gratuity to Rs 20 lakh to provide social security, soften inflation hit
The main purpose for enacting this Act is to provide social security to workmen after retirement, whether it is because of rules of superannuation, or physical disablement or impairment of vital parts of the body.
There are about 48.85 lakh central government employees and 55.51 lakh pensioners in the country
After the amendment in the Act, formal sector workers would be eligible for up to Rs20 lakh tax-free gratuity.