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CA Dipika Pathak
Partner at D P S A &... • 1y
Attention, Companies! 🔉 It's crucial to ensure the proper booking of Gratuity provisions in your books. Today, let's delve into the topic of Applicability. The Payment of Gratuity Act, 1972 extends its provisions to employees working in factories, mines, oilfields, plantations, ports, railway companies, shops, and other establishments with 10 or more employees. Gratuity is extended to employees who have rendered at least five years of continuous service within a company. In the upcoming days, we will delve into various aspects including methods of payment, timing of payments, exemptions, and more. Stay tuned for comprehensive insights on these crucial aspects of Gratuity provisions. Remember, actuarial valuations are mandatory at the conclusion of each accounting period to facilitate the preparation of accurate financial statements.
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CA Dipika Pathak
Partner at D P S A &... • 1y
#2nd part The Payment of Gratuity Act, 1972 !First part posted on 10-Apr-2024 Gratuity is given to employees who have rendered at least five years continuous service within a company. In simple terms, an employee is considered to be in continuous
See MoreCA Dipika Pathak
Partner at D P S A &... • 5m
Attention! 🚨 Got 10+ employees in your business or work for such a company? Don’t let gratuity rules slip through the cracks! Stay compliant, avoid penalties, and protect your rights. 💼✨ During audits, we often spot gratuity rules being overlooked
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