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SUBJECTS WE DEAL IN
 

Employees' Provident Fund

Employees' State Insurance

Contract Labour

Labour Welfare Fund

Shops & Establishments

Factories Act

Payment of Wages

Minimum Wages

Payment of Bonus

Payment of Gratuity

Industrial Disputes

Workmen Compensation

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Industrial Standing Orders

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Pay-roll Management

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NEWS

Maternity Leave raised to 26 weeks:

Amendment in Maternity Benefit Act has been notified to raise Maternity Leave from 12 weeks to 26 weeks w.e.f. 1st April, 2017.

EPF Wage Ceiling enhanced to Rs. 15,000:

Monthly wage ceiling for coverage under EPF enhanced from Rs. 6,500/- to Rs. 15,000/- w.e.f. 1st September, 2014.

ESI Wage Ceiling enhanced to Rs. 21,000:

Monthly wage ceiling for coverage under ESI enhanced from Rs. 15,000/- to Rs. 21,000/- w.e.f. 1st January, 2017.

EPF Admin Charges reduced and EDLI Admin Charges abolished:

EPFO reduced EPF admin charges to 0.65% from 0.85% and abolished EDLI admin charges w.e.f. 1st April, 2017.

Bonus Eligibility Ceiling enhanced to Rs. 21,000:

Wage ceiling for eligibility under Payment of Bonus Act has been enhanced from Rs. 10,000 to Rs. 21,000 per month retrospectively w.e.f. 1st April, 2014. Although, implementation from retrospective effect has been stayed by various High Courts.

Central & State Specific Labour Laws & Rules
 
Payment of Gratuity Act, 1972

Purpose & Object The Payment of Gratuity Act, 1972 has been enacted to provide for a scheme for payment of gratuity to employees engaged in factories, mines, oilfields, plantations, ports, railway companies, shops or other establishments upon their superannuation, retirement, resignation, death or disablement due to accident or disease.
Applicability
  • Payment of Gratuity Act, 1972 extends to whole of India.
  • It applies to every factory, mine, oilfield, plantation, port and railway company, shop or establishment in which 10 or more personsĀ  are or were employed on any day of the preceding 12 months;
  • It applies to all such other establishments or class of establishments in which 10 or more persons are or were employed on any day of the preceding 12 months as the Central Government may, by notification, specify in this behalf.
Eligibility Gratuity is payable to employees who have rendered continuous service of at least 5 years.

Maximum Limit

  • Employees covered under the Act are entitled for maximum amount of gratuity of Rs. 10,00,000/-
  • The employer may be pleased to offer better terms of gratuity. However, any amount exceeding the maximum prescribed limit of gratuity (Rs. 10,00,000/-) becomes taxable in the hands of the recipient..
Rate of Gratuity
  • Gratuity is payable at the rate of 15 days' last drawn wages by the employee concerned for every completed year of his service or part thereof in excess of 6 months.
  • In case of a monthly rated employee, 15 days' wages shall be calculated by dividing the last drawn monthly wages by 26 and multiplying the quotient by 15.
  • In case of a piece-rated employee, daily wages shall be computed on the average of the total wages received by him for a period of 3 months immediately preceding the termination of his employment (without taking into account the wages paid for any overtime work).

Services We Offer

We are Labour Law Consultants and at FuturAgeSM, we provide following services in compliance to the provisions of Payment of Gratuity Act, 1972:

FuturAge Providing day to day consultancy on matters pertaining to payment of gratuity;
FuturAge Obtaining Registration of establishment with the Controlling Authority;
FuturAge Assistance in calculating the amount of gratuity payable to an employee;
FuturAge Assistance in obtaining appropriate Gratuity Plan from insurance companies for meeting the liability of employer towards payment of gratuity;
FuturAge Formation of Approved Gratuity Fund;
FuturAge Preparation & Submission of notices with the Controlling Authority in case of change in name, address, nature of business of establishment;
FuturAge Intimation to Controlling Authority from time to time as may be required under the Act;
FuturAge Obtaining permissions from Controlling Authority from time to time as may be required under the Act;
FuturAge Assistance in payment of contribution to the Approved Gratuity Fund;
FuturAge Preparation & Submission of nomination forms with the Controlling Authority;
FuturAge Submission of amendment in nominations;
FuturAge Assistance in payment of gratuity to employees;
FuturAge Preparation & filing of returns with the Controlling Authority;
FuturAge Assistance in ensuring compliance of various provisions of the act related to disclosures, notices, displays, deductions, forfeiture etc;
FuturAge Replying / Satisfying Show Cause Notices issued by Inspector / Controlling Authority;
FuturAge Representing the establishments before Inspector / Controlling Authority;
FuturAge Assistance at the time of inspection and search of any premises by Inspector;
FuturAge Representing establishments at the enquiries conducted by the inspector;
FuturAge Representing establishments before the Appellate Authority.
   
 
 
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