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status of gatuitry payment act after 6th pay commission (Maxm limit of 3.5 lacs to rs---10.00 Lacs. I want to know the details
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∙ 14y ago
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What is the growth of labor legislation in India?
Labor legislation is the set of laws and/or acts listed in the constitution of a country,subject to changes whenever required;but through proper channel. the major labor laws/acts in India are- factories act,payment of wages act,minimum wages act,payment of bonus act,trade union act,industrial dispute act, workmen's compensation act, provident fund act, gratuity act, etc.
What is statutory compliance in Hr in India?
The statutory compliane are difference in various states, typically statutory followed all the states are 1. Provident fund 2. ESIC 3. Professional tax/service Tax 4. Bonus Act 5.Gratuity 6.
What is the stamp duty act in India?
What was the year when stamp duty act passed in Maharashtra (INDIA) ?
Which act gave the East India company an advantages over colonial merchants?
The Tea Act.
What act raised money to bail out the British east India company?
The Tea Act
What is the Age limit for Gratuity in India?
45 years
What is the growth of labor legislation in India?
Labor legislation is the set of laws and/or acts listed in the constitution of a country,subject to changes whenever required;but through proper channel. the major labor laws/acts in India are- factories act,payment of wages act,minimum wages act,payment of bonus act,trade union act,industrial dispute act, workmen's compensation act, provident fund act, gratuity act, etc.
Is it mandatory to get a PAN number for the Gratuity Trust registered with Life Insurance corporation of India?
YES
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
Is gratuity part of salary?
Gratuity means tip
What is a synonym for gratuity?
A gratuity is more commonly known as a tip.
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 another word for tip?
Another word for tip is gratuity.
What is the Formula for calculating pension equivalent of gratuity?
pension equivalent gratuity
What is statutory compliance in Hr in India?
The statutory compliane are difference in various states, typically statutory followed all the states are 1. Provident fund 2. ESIC 3. Professional tax/service Tax 4. Bonus Act 5.Gratuity 6.
What is journal entry for gratuity payment?
[Debit] Gratuity [Credit] Cash / bank
