Gratuity

Deductions from salaries, such as standard deduction, gratuity, and leave encashment, have now been consolidated in one section instead of being scattered across various sections

The increase in gratuity limits was formalised through an office memorandum issued on May 30, 2024

Haryana government has decided to increase the maximum limit of Death-cum-Retirement Gratuity for state government employees by 25 per cent, an official statement said on Saturday. This enhancement will take effect from January 1, 2025, raising the gratuity from Rs 20 lakh to Rs 25 lakh. The proposal in this regard was approved by the state cabinet, which met under the chairmanship of Chief Minister Nayab Singh Saini. According to an official statement, the Cabinet also approved a 25 per cent increase in the maximum limit of Death-cum-Retirement Gratuity for Judicial officers of the state government. These decisions are aimed at providing enhanced financial security to the state government employees and their families as well as the Judicial officers, the statement read. In another decision, the Cabinet approved the revision of the Indexation Policy for calculating External Development Charges. "The Indexation Policy was based on EDC rates for the year 2015 and these had not been

Employees may nominate one or more individuals, usually family members, according to the law

Odisha Chief Minister Mohan Charan Majhi on Tuesday raised the gratuity limit for government employees from Rs 15 lakh to Rs 20 lakh. This raise applies to the Death-Cum-Retirement Gratuity (DCRG) and is effective retroactively from January 1, 2024, for all regular state government employees, according to an official release from the Chief Minister's Office. The decision follows requests from various service associations in the state for an increase in the DCRG ceiling. The move aligns with the central government's recent adjustment to the retirement and death gratuity under the Central Civil Services (Pension) Rules, 2021, which also took effect from January 1, 2024.

Following a 4% increase in the dearness allowance (DA), the government has decided to raise the gratuity limit by 25%

If a company, be it in the public or private sector, has 10 or more employees working in its organisation, it must pay gratuity to its employees

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Did you know? If gratuity isn't paid within a month of employment ending, employers owe interest as set by the Centre. Discover everything there is to know about gratuity

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Life Insurance Corporation (LIC) has notified an increase in gratuity limit to Rs 5 lakh from Rs 3 lakh for its agents. The increase was effected by amending the Life Insurance Corporation of India (Agents) Regulations, 2017. These regulations may be called the Life Insurance Corporation of India (Agents) Amendment Regulations, 2023, LIC said in a regulatory filing on Friday. These regulations came into force on the date of their publication in the Official Gazette dated December 6. The Finance Ministry in September had approved a series of welfare measures, including enhancement of the gratuity limit and family pension, for the benefit of LIC agents and employees. The ministry had enhanced the gratuity limit from Rs 3 lakh to Rs 5 lakh for LIC agents aimed at bringing substantial improvements to the working conditions and benefits for them. It also enabled the reappointed agents to be eligible for renewal commission, thereby providing them with increased financial stability. ...

The new benefits incentivise 1.35 million agents to continue with LIC, India's largest life insurer, but raise the heat on smaller firms in an expanding but difficult business

Brings in uniform family pension rate at 30% for LIC employees

The finance ministry increased the gratuity limit from Rs 3 lakh to Rs 5 lakh for LIC agents

Earlier, serving judges of the High Court or the Supreme Court were appointed as chairperson or a member while staying in their existing service, and were entitled to pension and other benefits

The issue is now pending before the Supreme Court following an appeal by the consortium

The NCLT order, which is public now, provides for a very microscopic settlement for employees, which is pegged at Rs 52 crorE

Finmin notifies changes to the investment pattern of these funds

The employees have asked the Air India CMD to intervene in the matter urgently and ensure that retirees are given their final settlements in terms of the Office Order