Whether biotech companies covered under the payment of gratuity act ??
ADITYA KHAKHA (Financial advisor) (48 Points)
06 April 2016ADITYA KHAKHA (Financial advisor) (48 Points)
06 April 2016
CA Suri Kota
(Assistant Manager @ EY)
(955 Points)
Replied 06 April 2016
The Payment of Gratuity Act, 1971, applies to employees engaged in factories, mines, oilfields, plantations, ports, railway companies, shops or other establishments with ten or more employees. Gratuity is fully paid by the employer and no part comes from an employee’s salary.
They are applicable for Gratuity as they exceed the 5years of service with employer. You can go for labor court on litigation !!!