News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Rediff.com  » Business » Bill to raise gratuity ceiling to Rs 10 lakh

Bill to raise gratuity ceiling to Rs 10 lakh

Source: PTI
April 22, 2010 15:02 IST
Get Rediff News in your Inbox:

A bill to raise the ceiling of gratuity for employees to Rs one million (Rs 10 lakh) from the current level of Rs 3,50,000 was introduced in the Lok Sabha on Thursday.

The Payment of Gratuity (Amendment) Bill 2010, introduced by Minister of State for Labour Harish Rawat, seeks to amend the Gratuity Act to enhance the amount of gratuity payable to an employee from Rs 3,50,000 to Rs one million (Rs 10 lakh) .

The legislation was brought following demands from trade unions and others to remove the ceiling or increase the maximum payable amount which was fixed in 1997. Based on these representations, the bill proposes to enhance the ceiling of gratuity.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!