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No there is no limit on the payment of gratuity, but there is a limit on the tax exemption amt. Only an amt equivalent to 3.5 Lacs is tax exempted, any amt over & above that is taxable.
Rgds,
Nitika Kaul
On Thu, Dec 18, 2008 at 4:31 PM, Pradeep Verma <verma_pradeep123@yahoo.com > wrote:
The limit is 3.5 Lac by the amendment in 1997..
--- On Thu, 29/5/08, Satyanarayana Swami Gurram <gurramsatya@gmail.com > wrote:
From: Satyanarayana Swami Gurram <gurramsatya@gmail.com >
Subject: Re: {PassionHR} Gratuity Limit
To: PassionHR@yahoogroups.com
Date: Thursday, 29 May, 2008, 7:40 PM
Dear Mr. Gajendra,There is certainly a limit for gratuity as per the Payment of Gratuity Act. Maximum limit of gratuity atpresent is Rs.3 lakhs and applicable to any person completing minimum of five years of service with the same company.. There is a debate going on when to consider a employee has completed 5 years of service?The answer, if any employee has put in 4 years and 240 days (in 5th year) service contineously is eligible for gratuity.
Hope I am clear till now.Regards,GS Swami
On 5/17/08, verma_gk <verma_gk@yahoo. com> wrote:Dear All
Is there any limit of payment of gratuity under payment of gratuity act?
Pls. revert.
Regards,
Gajendra Verma
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