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What is the procedure to deliver the Death Gratuity Payment by Check to the next of Kin?
Obtain the required certification and signature on the Claim Certification and Voucher for Death Gratuity Payment (DD Form 397) when presenting the check to the payee.
What are the methods of payment for the death gratuity?
Cash and Electronic Fund Transfer
What is the da form 397?
Claim certification and voucher for death gratuity payment.
How to determine if death gratuity was paid in 1969 for veteran?
Nearly no one, nor any agency keeps payroll records for that long. Unless the receiver of the payment from '69 has some paper trail on it (indicating a payment was made) other ideas will have to be thought of.
Who is entitled to Maj bob smiths death gratuity?
sister
How much is death gratuity tax in US?
The U.S. Army provides a one-time lump sum Death Gratuity of $100,000 to the primary next of kin of a Soldier who dies while on active duty.
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.
Explain the salient features of the payment of gratuity act 1972?
This particular act passed by the Indian legislature was an attempt to give some level of rights to workers in the face of big business. In this sense, the concept of "gratuity" is different than what is presented in the West. This vision is one where workers receive settlement or severance packages after they have been terminated from their business of employment. It can be considered a type of pension or compensation for services rendered to the organization: Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than five years.(i) on his superannuation; or(ii) on his retirement or resignation; or(iii) on his death or disablement due to accident or disease;provided that the completion of continuous service of five years shall not be necessary where the termination of the employment of any employee is due to death or disablement. The act is designed to cover employees who work in minefields, oil rigs, railway companies, mines, and other industrial settings as such.The Payment of Gratuity Act, 1972A) Coverage: The Act implies to every factory, mine oilfield, plantation, port and Railway Company and to every shop or establishment in which 10 or more persons are employed, or were employed, on any day of the preceding 12 months. The Act makes all persons employed in the above establishments eligible for gratuity irrespective of their wages.B) Administration:The Act is administered by a controlling authority appointed by the appropriate Government.C) Benefits under the Act:Gratuity is payable to an employee on the termination of his employment after he has rendered continuous service for not less than 5yrs. The compensation of continuous service of five years is however, not necessary where the termination of the employment due to death or disablement. Gratuity is payable at the rate of 5 days wages based on the rate of wages last drawn by the employee for every completed year of service or part thereof in excess of six months. But the amount of gratuity payable to an employee shall not exceed Rs.3.5 lakhs.D) Source of Funds:Under the Act, gratuity is payable entirely by the employer. For this purpose he is required either (I) to obtain insurance with the Life Insurance Corporation, or (ii) to establish a gratuity fund. Thus it is his liability to pay the premium in the first case and to make contribution in the second case.
How do you change ownership of a life insurance policy when insured is deceased?
Ownership cannot be changed after death. All rights and responsibilities of the owner of the policy end at death of the insured. At death, proceeds will be paid out to the beneficiary and if the method of payment was decided before death then payment is set as well. If payment method is not set then the beneficiary can decide how they want to received payment. There are many ways they can receive payment.
Can an ex-husband be insured to protect a 14 year alimony payment in case of his death before the 14 years are up?
Yes. If he agrees to it and someone pays the premium. It's an excellent procedure (opinion).
Does my auto insurance have to pay a death benefit to survivors if a one car accident causes a death?
The term "death benefit" refers to a payment made as a result of a life insurance policy. In the case of car insurance, if there is a lawsuit for wrongful death, and a payment is ordered by the court, then the car insurance will pay. That is not exactly the same thing as a death benefit even though it is a payment made as a result of a death.
What is immigration procedure in international airport?
Death if your black.
