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Can the employer authorised to deduct 50 percent of gratuity on the request of the destitude wife of the employee?
Wiki User
∙ 13y ago
The destitute wife should contact the employer if she wants this to be done and ask the employer if it possible to do this IF she does request to do it.
Wiki User
∙ 13y ago
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What is Minnesotas law on supervisors and managers sharing the tips of employees.?
From Minn. Stat. s. 177.24: "Any gratuity received by an employee or deposited in or about a place of business for personal services rendered by an employee is the sole property of the employee. No employer may require an employee to contribute or share a gratuity received by the employee with the employer or other employees or to contribute any or all of the gratuity to a fund or pool operated for the benefit of the employer or employees. This section does not prevent an employee from voluntarily and individually sharing gratuities with other employees."
Can a business demand an employee report all gratuity when that employee earns an hourly wage?
This depends on the state. In some states, such as the state of New York, the Department of Labor forbids employers from withholding gratuity from employees who are allowed tips. Furthermore, employers must have a policy regarding tips. If you work in NY and you can prove your employer is withholding gratuity, there are legal remedies you can use which may cover attorney fees, liquidated damages and an amount equaling the withheld gratuity. Furthermore, if you can prove it, you can confront your employer about it. If your employer were to then fire you, you could file a wrongful termination suit as well as illegally withheld gratuity. However, your employer is well within his/her legal right to deduct transaction fees if the gratuity was paid via a credit card.
Can Gratuity be taxed?
Yes. Gratuityup to a maximum of Rs.3.5 lacs is tax free. Any amount above this is taxable However if an employee is eligible for a Gratuity amount of Rs. 2.9 lacs as per the Gratuity formula, but the employer decides to pay him/her Rs.3.25 lacs the amount above the actual eligible amount i.e., the amount above Rs.2.9 lacs is taxable.
Is a contractor employee entitled to gratuity?
No one is entitled to one but all can receive
How do you calculate gratuity?
If it is "Gratuity" or severance benefit to an employee (leaving indemnity) it depends on the local labour laws. If you are asking about a Gratuity or Tip at a restaurant or for services rendered, it is entirely your own decision. Unless you clarify what your intention is it is difficult to answer correctly.
Is gratuity comes under cost to the company?
Gratuity is supposed to be paid by the employer and should not come under the cost to company. The reasons are if Gratuity is added to the CTC, then the same should be paid to the individual during his seperation. Gratuity should normally be mentioned seperately on the offer letter. Regards, Sriram Send your replies to smarirs@yahoo.com
What is the maximum amount of gratuity paid to an employee as per recent central government notification?
10 L
Whether gratuity is taxable under Indian Income Tax?
Gratuity can be received by the employee at the time of his retirement or by his legal heir in the event of death of the employee. Gratuity received by an employee on his retirement is taxable under the head "Salary" and gratuity received by the legal heir is taxable under the head" Income from Other Sources". In both the above situations gratuity upto a specified limit is exempt under the provisions of sec.10(10) of the Income Tax Act, 1961. For the purpose of exemption of gratuity under sec.10(10) the employees are divided under three categories: # Govt. employees - In the case of govt. employees the entire amount of death-cum-retirement gratuity is exempt from tax and nothing is therefore taxable under the head Salaries. #* The amount of gratuity actually received. #* Fifteen days' salary (7 days in the case of seasonal employment) for every completed year of service provided the employment is more than six months. # Employees covered under the Payment of Gratuity Act, 1972 - The employees covered under the Gratuity Act who receive gratuity have been given exemption which is the minimum of the following amounts. Gratuity received in excess of the minimum of the amounts mentioned below is included in the gross salary for the purposes of taxation. #* Actual amount of gratuity received. #* Half month's average salary for every completed year of service. (Average salary means the average of the salary drawn by the employee for 10 months immediately preceding the month in which he retires) # Other employees - In the case of other employees the gratuity received or receivable on his retirement or on his becoming incapacited prior to such retirement or termination of his employment or any gratuity received by his heirs is exempt to the extent of the minimum of the following amounts. The amount received in excess of the sums mentioned below is included in the gross salary of the employee for the purposes of taxation.
What is provident fund and gratuity?
PF and Gratuity are two schemes designed to benefit the employees of the private sector. In PF a small portion of the employees salary is deducted and deposited with the government PF office and at the time of retirement it is paid as a lump sum to help the employee lead his life peacefully in spite of retirement and loss of monthly income. Gratuity is a scheme to motivate people to serve for longer durations with the same employer. Anybody who has served an organization for more than 5 years is eligible for Gratuity. A portion of your last drawn salary would be multiplied with the number of years of service and paid out to you when you leave an organization after years of service.
What is the percentage of gratuity deduction in India?
The PF contribution is 12% of Basic salary from both employee and employer. For the calculation the maximum limit of Basic is Rs 6500/-. It means even if the employee's basic salary is above Rs 6500/- the employer is liable to contribute only on Rs 6500/-, that is Rs 780. However if an employee so desires he may voluntarily contribute more than 12%. Apart from it an employer also has to pay some administration charges. I explain you the various accounts of PF challan. A/c No 1: PF contribution Account A/c No 2: PF Admin account A/c No 10: EPS account A/c No 21: EDLIS account A/c No 22: EDLIS admin account PF admin charge = Employer has to pay 1.1 % of basic EDLIS: Employer has to pay 0.5% of basic EDLIS admin charge:Employer has to pay 0.01% of basic Total additional percentage employer has to pay: 1.61% of basic So employer has actually to pay 13.61 % of Basic and employee has to pay only 12% of basic. Employees complete 12% goes to PF account while employer contributions' 8.33% goes to Pension fund and 3.67% goes to PF fund.
What is the accounting entry for provision for gratuity?
Gratuity a/c dr Provision for gratuity a/c
How do you say 'gratuity' in Spanish?
gratificación - gratuity
