abdul (accountant) (43 Points)
06 September 2013Dear All,
I have doubt in Gratutity. kindly help me .
my Question is ?
From August 2013 onwards I working in textile company . they deduct Gratutity amount from my ctc rs 437 per month (Rs 5037 p.a) . if i quite the company after one year is it possible to get deduction amount. or after a 5 years only to get amount?
Mihir
(Wealth Manager)
(5293 Points)
Replied 06 September 2013
Gratuity amount is payable by the employer from own funds. But many companies are following this practice of deducting a portion from salary every month toward gratuity payment. This is not a lawful practice. You will have to check the appointment letter to see what are the conditions with regards to gratuity.
Rajesh
(Service )
(7576 Points)
Replied 06 September 2013
Please check terms & conditions in your appointment letter.
CAclubindia
