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Dear All,This is to let you know that "Gratuity" is derived from the Latin term "gratitude," which means to provide in lieu of gratitude. Definitely, the Payment of Gratuity (POG) Act is one of the labor laws in India.The act states to provide a lump sum amount ...
Employee is not being paid gratuity every month. Amounts shown in CTC are an indication of expenses that the company is or will have to bear for the employee. Gratuity will become applicable after 5 years of continuous service. Your doubt itself is not clear.
Dear Sir,As discussed with you a couple of times, the Employer has been paying Gratuity every month to all the Employees as the salary is based on CTC (but in the CTC structure, nowhere is it mentioned as a 4.81% deduction of gratuity). The company has not maint...
Sir,According to me, if an employer makes gratuity a part of CTC, then the employer should be liable to pay the deducted amount before completing 5 years as taxable income. However, on the other hand, your proposal is also good if it is handled by the government...
Dear Bhagat Singh Ji, Asst. Manager - Corporate HR,As you have written, "Would like to state that there have been many case verdicts in favor of employees who have rendered 4.6 years of continuous services and have been paid the gratuity."Have you gone through a...
Salaries in our country are quoted in terms of CTC or cost to company. CTC is Just the cost that the company incurs to employ you and keep you employed. It includes your pay and anything else that the company may incur to keep you in employment. It’s important b...
Dear All,If XYZ Company's employer says he has been paying Gratuity every month to all the employees as the salary is based on CTC (but in the CTC structure, nowhere is it mentioned as a 4.81% deduction for gratuity). The company has not maintained any pro rata ...
Today on dtd. 29.11.2017 want to discuss issue regarding Gratuity & Leave Encashment as a part of CTC.Many Employers now a day’s includes Gratuity & Leave Encashment as a part of CTC. It’s a common practice. And due to this employee suffer low in hand salary. So...
CTC concept was applied in 2004 when Fringe Benefit Tax (FBT) came into existence. It aimed to create a win-win situation for both employees and employers. Prior to its implementation, tax liability for employers ranged from 8% to 32%. By incorporating the costs...
You can't stop an employer from using the concept of CTC. Since CTC does not come under the purview of any labor law and is agreed upon by the employee, you have no remedy in the matter.Leave payment is cost-to-company. It is not morally correct to include the c...