Hi All,
Can anyone pls. help me out to know about the process of Gratuity registration from Employeer side. My company is new and I need to start the process without any consultants help.
regards,
Gajraj Singh
From India, Mumbai
2Can anyone pls. help me out to know about the process of Gratuity registration from Employeer side. My company is new and I need to start the process without any consultants help.
regards,
Gajraj Singh
From India, Mumbai
There is no registration for gratuity but it takes place automatically by operation of Payment of Gratuity Act. The Act requires that an employee leaving the organisation after serving the company for a continuous period of five years is to be paid gratuity. At the same time, in case of death the dependent of the deceased employee is to be paid gratuity for which the qualifying service of five years is not required. In order to know who is the dependent who is legally entitled to get gratuity, an employer is required to collect nominations in form F from all employees who have completed one year of service. In fact with that the process of application of Payment of Gratuity Act starts.
Gratuity is calculated on the amount of salary paid to the employee at the time of his leaving the company and the amount of gratuity is equal to 15 days salary for every completed year of service subject to a maximum of Rs 10 lakhs.
Regards,
Madhu.T.K
From India, Kannur
Gratuity is calculated on the amount of salary paid to the employee at the time of his leaving the company and the amount of gratuity is equal to 15 days salary for every completed year of service subject to a maximum of Rs 10 lakhs.
Regards,
Madhu.T.K
From India, Kannur
as per the gratuity act-1972, there is no registration for gratuity. but it is applicable after 5 year. calculation formula- current basic/26*15*years of service thanks & regards vikas sharma
From India, Delhi
From India, Delhi
There is no requirement to get the registration for Gratuity , but some company opt the Gratuity Scheme of Insurance Company like LIC, these Insurance Companies pay the interest on the amount paid to them as Gratuity Premium, For this purpose you are require to have agreement with LIC , Provide the Datas Like Name of Employees, their age, their basic, nominee's etc.
Insurance Companies decide the Premium amount on the basis of employee's Basic.
Rajiv Singh
From India
Insurance Companies decide the Premium amount on the basis of employee's Basic.
Rajiv Singh
From India
Hi!
You don't require registration. Best thing for you is to form a trust through LIC and get it administered by them. No hazzles and procedure is simple. Entire documentation of trust is done by LIC. Service is at your door step. What you have to do is pay premium on the no of employees, Basic+DA, date of birth, etc based on acturial calculations of LIC. Besides it gives insurance coverage if any employees dies. When employee leaves or retires, communicate to LIC with details in their format and you get the cheque in 2 weeks.
For details you can contact LIC Regional Office at your place directly. Procedure is simple. For further clarification, you can get in touch with me.
Rgds
S Nagasubramanian
Senior Manager, Legal, PR & EOHS
RSB TRANSMISSIONS (I) LTD, PUNE.
Mobile: 9325006193
Email id:
From India, Pune
You don't require registration. Best thing for you is to form a trust through LIC and get it administered by them. No hazzles and procedure is simple. Entire documentation of trust is done by LIC. Service is at your door step. What you have to do is pay premium on the no of employees, Basic+DA, date of birth, etc based on acturial calculations of LIC. Besides it gives insurance coverage if any employees dies. When employee leaves or retires, communicate to LIC with details in their format and you get the cheque in 2 weeks.
For details you can contact LIC Regional Office at your place directly. Procedure is simple. For further clarification, you can get in touch with me.
Rgds
S Nagasubramanian
Senior Manager, Legal, PR & EOHS
RSB TRANSMISSIONS (I) LTD, PUNE.
Mobile: 9325006193
Email id:
From India, Pune
Company has to Submit a Form - A [See Rule 3(1)] Notice of Opening for the applicability of Payment of Gratuity Act to the concern Controlling Authority.
And also following Abstracts & Notices needs to be displayed on company notice board in english & Vernacular language:
1. Notice of Authorised Person under the Payment of Gratuity Act, 1972
2. Abstract - Form U under the Payment of Gratuity Act, 1972
Regards
Jeeva.K
Hasini HR Services Pvt Ltd,
Chennai.
Contact Number: 9094403910.
From India, Madras
And also following Abstracts & Notices needs to be displayed on company notice board in english & Vernacular language:
1. Notice of Authorised Person under the Payment of Gratuity Act, 1972
2. Abstract - Form U under the Payment of Gratuity Act, 1972
Regards
Jeeva.K
Hasini HR Services Pvt Ltd,
Chennai.
Contact Number: 9094403910.
From India, Madras
There is no provision of such registration. But we need to understand both the point of view of Employee and Employer. From employee point of view we know it is long service award. But from employer's point of view it is contingent liability which need to pay to the employee in crises or end of the term. Generally after completion of 5 years from inception of the business, it is statutory obligation on the Employer to make the provision of Gratuity Fund. Which they have to manage themselves by making trust or they can apporach to LIC of India. I am attaching the scheme issued administered by the LIC of India for further clarifications.
Dear Vijaysinh,
Welcome to CiteHR.
Forms are provided by the Payment of Gratuity Rules & therefore first see which the State/Central Rules are applicable in your case & then go through those Rules to have formats as provided therein for your query.
[SIZE=1][B][COLOR=red][FONT=Verdana]R.N.KHOLA
From India, Delhi
Welcome to CiteHR.
Forms are provided by the Payment of Gratuity Rules & therefore first see which the State/Central Rules are applicable in your case & then go through those Rules to have formats as provided therein for your query.
[SIZE=1][B][COLOR=red][FONT=Verdana]R.N.KHOLA
From India, Delhi
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
REGISTRATION & LICENSING UNDER DELHI S&E ACT.pdf
Registration for EPF-Procedures & documents.docx