Gratuity
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 April 2012
Dear All,
Please give me some explanation about Gratuity, and what is % of contribution from employer and from employee ?
Please give me some explanation about Gratuity, and what is % of contribution from employer and from employee ?
VIVEK SHARMA
(Expert)
01 April 2012
1) Employee does not contribute for gratuity, only employer contributes.
2) Upto 15 days of Basic+DA paid by employer to the employee is tax free for each years of service completed
3) Minimum 5 years of continuous service is required for gratuity.
4) Any payment beyond 15 days will be taxable.
2) Upto 15 days of Basic+DA paid by employer to the employee is tax free for each years of service completed
3) Minimum 5 years of continuous service is required for gratuity.
4) Any payment beyond 15 days will be taxable.
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