Central Government Notification Of Interest Rate For Payment Of Gratuity
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Hi all,Please see below for THE PAYMENT OF GRATUITY ACT, 1972\. Hope this will work as ready reference for you.[THE PAYMENT OF GRATUITY ACT, 1972INTRODUCTIONThe Working Journalists (Conditions of Service) and Miscellaneous Provisions Act, 1955 (45 of 1955) under...
Hi Veerendra,Please see below for one case study. This was in reply to case JEEWANLAL [1984] INSC 165; (1929) LTD.ETC. ETC v. APPELLATE AUTHORITY UNDER THE PAYMENT OF GRATUITY ACT &O; [1985] 1 SCR 664; [1984] 4 SCC 356; AIR 1984 SC 1842 (29 August 1984)Payment o...
Hi Veerendra,No problem at all. I will try to post more case studies relating to this post.Kind Regards,Debajyoti
The interest rate to be applied on delayed payment of gratuity is 10%.Refer to the below content for more details.Employees who do not receive their gratuity within 30 days (from the date on which it becomes payable) are entitled to get the money along with simp...
@hdthakkar:> Is there any Maharashtra govt notification that interest is 12% per annum on delayed gratuity?The simple interest, as notified by the Government of India from time to time for long-term deposits, will be applicable for delayed payment of Gratuity.Ra...
Dear Senior,Please let me know what will be the rate of simple interest to be paid towards delayed payment of gratuity fund to the employee, and after how many days of non-payment of gratuity from the date of leaving this delayed interest is applicable.Regards,S...
Dear Saurav,As per the Gratuity Act, the gratuity payment should be made within 30 days. For delayed payments over 30 days, the employer has to pay interest at the rate of 12% per annum.S. Sethupathy,Excellent HR Services,Erode
Provision for levying interest on delayed payment of gratuity by the Central Government is provided for in Sec. 7(3-A) of the Payment of Gratuity Act, 1972\. Thus, the current rate of interest is 10% per annum (simple interest).
What is the present rate of interest on delayed payment of gratuity?–-The present rate of interest on delayed payment of gratuity is [insert specific rate if known]. This rate is applicable when an employer delays the payment of gratuity to an employee beyond th...
Hi,I worked in an autonomous institute under the Central Government from 2004 to 2016\. I resigned and joined a private company in November 2016\. I forwarded my resignation letter through the proper channel in the institute, but I still have not received my gra...