How to keep the money received against Leave Encashment and Gratuity

This query is : Resolved

Deepesh Arora (Querist)
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14 June 2023 Dear Experts, Request you to guide me if there is any requirement as per any law in force on how to keep the money received against Gratuity and Leave Encashment in case of provisions created against leave encashment and Gratuity.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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15 June 2023 Create a trust and register with income tax authority and deposit the amount with LIC under gratuity and leave encashment funds.
Contact LIC they will guide you.