Hope u all doing gud…….
This is regarding the Payment of Gratuity and the Registration for the same.
When will be the law of Payment of Gratuity is applicable to a Company if it is a newly incorporated one? A person is entitled to only if he completes 5 years of service.
Where will the Employer deposit the contribution? And what will be the proportion of contribution?
If a Company incorporates in last year only then is it necessary to register for Gratuity at the earliest?
Payment of Gratuity
Gratuity should be paid to an employee on the termination of his employment after he has rendered service for not less than 5 years:-
- On his super- annuation
- His retirement
- His resignation
- On his death or disablement due to disease or accident
It means it directly/indirectly says that the company should exist for more than five years.
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
View Details
CCI
Pro
CAclubindia
