Gratuity

The issue is now pending before the Supreme Court following an appeal by the consortium

The NCLT order, which is public now, provides for a very microscopic settlement for employees, which is pegged at Rs 52 crorE

Finmin notifies changes to the investment pattern of these funds

The employees have asked the Air India CMD to intervene in the matter urgently and ensure that retirees are given their final settlements in terms of the Office Order

Currently, workers are not entitled to gratuity before completing five years of continuous service, according to the provisions of the Payment of Gratuity Act, 1972

The bill seeks to enable the central government to change the ceiling for tax free gratuity

The government is likely to bring an amendment to an Act to make gratuity up to Rs 20 lakh tax free in the upcoming second half of the Budget session of Parliament slated to begin on Thursday.The amendments to the Payment of Gratuity Act will not only raise the tax free portion of the gratuity but also allow the government to increase it through the executive order in the future, official sources said. Ceiling in gratuity will be linked to inflation and that way it would be raised through an executive order in the future, if the bill is passed by Parliament. Earlier, the labour ministry and trade unions reached an understanding in this regard. Pavan Kumar, Organising Secretary of the Bharatiya Mazdoor Sangh, too said the government has conveyed to the trade unions that the amendments to the Act are slated to be introduced in the Budget session. However, he said trade unions have also demanded other amendments, including a change in the current formula of calculation of gratuity to ...