Gratuity

Gratuity nomination at workplace: Who you can nominate and how to do it

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

Odisha enhances gratuity limit for regular govt employees to Rs 20 lakh

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.

Gratuity for central govt employees hiked by 25%: Know details

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

How to claim gratuity after resigning: Process and documentation

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

Gratuity hike setback, wellness retreat: Top personal finance stories

Our top stories this week tell you about EPFO's decision and the best well retreats in the country

Hike in gratuity amount deferred: What it means for your financial planning

Private sector and government employees must review their retirement portfolio and track EPFO's announcements

What is gratuity? Calculation, eligibility, and all you need to know

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

Budget 2024: Key announcements made in previous interim budget in 2019

Interim budget 2024: While interim budgets are said to have no major policy changes, let us take a look at some key announcements Piyush Goyal made in Interim Budget 2019

LIC notifies hike in gratuity limit to Rs 5 lakh from Rs 3 lakh for agents

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. ...

LIC's sops for agents could price out smaller life insurance companies

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

Finance ministry raises gratuity limit and insurance cover for LIC agents

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

Govt announces higher gratuity, other benefits for LIC agents, employees

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

No pension, PF for I-T, GST tribunal members under amended tribunal rule

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

4 Jet Airways aircraft attached over non-payment of gratuity to employees

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

Jet Airways staff approaches labour dept over non-payment of gratuity

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

Non-govt PFs, gratuity funds can invest in alternative investment funds

Finmin notifies changes to the investment pattern of these funds

Air India employees protest delay in disbursement of retirement dues

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

Contract workers may get gratuity before completing five years of service

Currently, workers are not entitled to gratuity before completing five years of continuous service, according to the provisions of the Payment of Gratuity Act, 1972

Cabinet nod likely to double gratuity cap to Rs 20 lakh

The bill seeks to enable the central government to change the ceiling for tax free gratuity

Change to gratuity Act likely in coming session

The government is likely to bring an amendment to an Act to make gratuity up to Rs 20 lakh tax free in the upcoming second half of the Budget session of Parliament slated to begin on Thursday.The amendments to the Payment of Gratuity Act will not only raise the tax free portion of the gratuity but also allow the government to increase it through the executive order in the future, official sources said. Ceiling in gratuity will be linked to inflation and that way it would be raised through an executive order in the future, if the bill is passed by Parliament. Earlier, the labour ministry and trade unions reached an understanding in this regard. Pavan Kumar, Organising Secretary of the Bharatiya Mazdoor Sangh, too said the government has conveyed to the trade unions that the amendments to the Act are slated to be introduced in the Budget session. However, he said trade unions have also demanded other amendments, including a change in the current formula of calculation of gratuity to ...