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A time to look back with admiration, a time to look forward with anticipation
The Payment of Gratuity Act, 1972 and The Payment of Gratuity (Central) Rules, 1972
The Essence
the genesis
It was felt that retired employees need a level of life security in order to live their post active working lives peacefully and satisfactorily. It was hoped to be achieved by making the employer contribute a sum of money to the employee for each year of active service. The aim was that post retirement individuals should be financially independent. Hence the Payment of Gratuity Act
Your rewards in life will always be proportional to the amount and quality of service rendered,
in the long run
Scope of the Act and rules
Objective
Ensure the welfare of retired employees, where gratuity becomes an asset for future security and livelihood. This is paid out as a token of appreciation for their contribution to the company
coverage
- Understanding continuous service
- Determining amount of gratuity payable
- Nominees for Gratuity
- Recovery of Gratuity
- Registers and records to be maintained
- Returns to be submitted periodically
- Penalties for offences under the Act
"Your rewards in life are directly proportional to your service "
Earl Nightingale
Three steps to success
We Help You Every Step Of The Way
Let’s face it! HR Policies need to be designed keeping the industry sector, business requirement and the needs of the workforce in mind. A one size fits all approach does not work when it comes to writing a number of policies.
On the other hand, labour laws require that companies adhere to various statutory compliances, but are difficult for the lay person to comprehend. Why stress over them. Leave the heavy lifting to us!
01
learning about all your business
Tell us which sector you are in, where you are located, how many employees by gender, if you engage contract labour etc
02
Send you relevant Labour compliances & HR Policies
Our system gets to work and creates a customised set of documents just for you. We deliver in 2 to 4 weeks
03
Keep you updated
on revisions to law
We constantly track changes in labour legislations, new policies in vogue and update you
