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Dear Mr. Sarkar / Sonali
Gratuity Insurance policy is very much mandatory. If your company's salary structire does not have "DA" then neen not consider. All other extra allowance that you have mentioned in you post should not be counted for GRATUITY calculation.
Thanks,
Anand G
From India, Bangalore
Gratuity Insurance policy is very much mandatory. If your company's salary structire does not have "DA" then neen not consider. All other extra allowance that you have mentioned in you post should not be counted for GRATUITY calculation.
Thanks,
Anand G
From India, Bangalore
Dear Anand,
Gratuity insurance policy is not yet made mandatory.
Please Refer Section 4 of the act
Compulsory insurance.
4A. (1) With effect from such date as may be notified by the appropriate Government in this
behalf, every employer, other than an employer or an establishment belonging to, or under the
control of, the Central Government or a State Government, shall, subject to the provisions of sub-section (2), obtain an insurance in the manner prescribed, for his liability for payment towards
the gratuity under this Act, from the Life Insurance Corporation of India established under the
Life Insurance Corporation of India Act, 1956 (31 of 1956) or any other prescribed insurer :
Provided that different dates may be appointed for different establishments or class of
establishments or for different areas.
Please note that no such notifications issued so far.
For Your Reference other than LIC few other insurance companies are also offer such Group Gratuity Insurance Policies.
Sethupathy
Excellent HR Services, Erode
From India, Coimbatore
Gratuity insurance policy is not yet made mandatory.
Please Refer Section 4 of the act
Compulsory insurance.
4A. (1) With effect from such date as may be notified by the appropriate Government in this
behalf, every employer, other than an employer or an establishment belonging to, or under the
control of, the Central Government or a State Government, shall, subject to the provisions of sub-section (2), obtain an insurance in the manner prescribed, for his liability for payment towards
the gratuity under this Act, from the Life Insurance Corporation of India established under the
Life Insurance Corporation of India Act, 1956 (31 of 1956) or any other prescribed insurer :
Provided that different dates may be appointed for different establishments or class of
establishments or for different areas.
Please note that no such notifications issued so far.
For Your Reference other than LIC few other insurance companies are also offer such Group Gratuity Insurance Policies.
Sethupathy
Excellent HR Services, Erode
From India, Coimbatore
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Gratuity Form N- seeking intervention of Labour Officer.pdf
FURMULA FOR CALCULATING GRATUITY.doc