Gratuity: Current Affairs, GK & News - 2020-2021
Income tax exemption limit on gratuity doubled to Rs 20 lakh
Published: March 8, 2019
The government has increased the tax-free gratuity income limit to Rs 20 lakh. This move will benefit the public as well as private sector employees. What is Gratuity? Gratuity is the monetary benefit provided by the employer to his/her employee for the services rendered by him during the period of employment. A minimum of five ..
Parliament passes Payment of Gratuity (Amendment) Bill, 2017
Published: March 23, 2018
The Parliament has passed Payment of Gratuity (Amendment) Bill, 2017 to empower government to fix period of maternity leave and tax-free gratuity amount with an executive order. The Bill seeks to amend Payment of Gratuity Act, 1972 on two issues related to maternity leave and ceiling of gratuity payable to an employee. Payment of Gratuity ..