Hike in GRATUITY PAYMENT

Q & A Forum › Category: Retirement Planning › Hike in GRATUITY PAYMENT

beekay asked 10 years ago

As the gratuity limit has been raised to 20 lakhs, from which date Steel Authority Of India Ltd( A PSU) officers will get enhanced gratuity.

1 Answers

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Sreekanth Staff answered 10 years ago

Hi, I believe that though the Government announced the effective date for increased gratuity as 1.1.2016, the necessary amendments to the Gratuity Act have not yet been passed in the Parliament. Kindly read below article and the comments shared by the blog readers, can be useful to you; http://www.relakhs.com/gratuity-benefit-calculation-taxation-eligibility/

CAKRISHNAN replied 9 years ago

DEAR SREEKANTH,
YOU HAVE REPLIED TO VARIOUS QUERIES THAT THE EFFECTIVE DATE FOR ENHANCEMENT OF GRATUITY IS JAN 2016.
BUT DPE HAS ISSUED THEIR RECOMMENDATION FOR WAGE REVISION FOR PSU EMPLOYEES.
THEY HAVE STATED THAT THE EFFECTIVE DATE FOR ENHANCEMENT OF GRATUITY IS JAN 2017.THE GRATUITY ACT IS STILL NOT PASSED.WHAT IS THE ACTUAL MECHANISM FOR DECIDING THE QUANTUM OF GRATUITY AND THE EFFECTIVE DATE.