Gratuity usually refers to a lump sum payment made by the employer in compensation of past services. It is one of the retirement benefits granted by an employer to his employees. Employees covered by the Payment of Gratuity Act, 1972 are entitled to gratuity as per the rules provided in section 4(2) and 4(3) of the said act. All other employees are entitled to gratuity as per terms of contract of employment. Tax treatment of .....
Gratuity is a payment made by the employer to an employee in appreciation of the past services rendered by the employee. The majority of the people are generally jumbled while the calculation of the exemption or taxable part of gratuity. Gratuity calculation is very simple with formulas of gratuity exemption’s calculation. We have described all formulas for calculation of the gratuity exemption step by step. You will also study the tax treatment of gratuity and .....
