Hello Friends,
Can anyone please tell me whether a newly commenced (2years old) company is required to make a provision for gratuity.
As the provision is to be created for the employees who have completed 5 years of service..
And in case of a newly formed company, the company does not complete 5 years so there is no question of employees completing 5 yrs... So is the the newly formed comany liable to make the provision from the 1st year itself???
Please let me know as sooon as possible and also where exactly is it stated...
CAclubindia
