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Gratuity Act, 1972

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(Querist)
08 April 2009 One of my friend works in a limited company for the last 6 years. He had taken a loan from the company for which he owed to the company for Rs. 200000 and gratuity amount payable to him is Rs 100000. My queries is that can the company settle this Rs 200000 agaist the gratuity amount of Rs. 100000?
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
08 April 2009 No he can not as nature of payment is diffrent in both cases. On eis retiral benefit and another is loan.
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
08 April 2009 No he can not as nature of payment is diffrent in both cases. On eis retiral benefit and another is loan.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
08 April 2009 In my opinion he can.
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