Hello Team Members, Is keeping Gratuity fund mandatory for any organisation and if yes when does it starts from? As the Act has not simplified the employer is required to keep the fund as mandatory and also no such period been mentioned in the act. Please share your views.
From India, Pune
7From India, Pune
Dear Member, Keeping Gratuity fund is not mandatory for any organization under the Payment of Gratuity Act, 1972. R N KHOLA
From India, Delhi
From India, Delhi
Section 4A makes it mandatory for every employer to invest the gratuity provision to LIC's gratuity scheme every year. However, this section applies to establishments in the state from the date on which the State Government will notify. As such some state governments, like Kerala, have notified dates on which secion 4A will be applicable to establishments in such states. If your state also has notified applicability of this section, then you have to invest the fund in LIC.
From India, Kannur
From India, Kannur
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Provident fund.zip
TN Labour Welfare Fund 2018.pdf
PROVIDENT FUND.rar