Click it and Unblock the Notifications
Just In
Don't Miss
-
Ranam Aram Thavarel Full Movie Leaked Online In HD For Free Download Hours After It Hit The OTT Platform -
Ford Territory SUV Name Trademarked – Likely To Be Positioned Below The Everest SUV -
Roman Reigns transitioning to Hollywood after WWE WrestleMania 40 loss -
IRFC, RVNL, IRCTC, Railtel: Railway Stocks In Focus As Election Polls Begin; Mega Rs 10-12 Lakh Crore Plan -
OnePlus Ace 3 Pro Leak Hints at New Design; Expected Launch, Specifications We Know So Far -
Summer Fashion: Your Bollywood Style White Outfits Guide To Keep It Cool And Chic -
Journey From Delhi To Ooty: Top Transport Options And Attractions -
IIIT-Bangalore Introduces PG Diploma In Digital Product Design And Management
7th Pay Commission: Latest, Gratuity increased to Rs 20 lakh, maternity benefits enhanced
Recommended Video
Following the 7th Pay Commission, the government has now increased the ceiling of gratuity amount for employees from Rs 10 lakh to 20 lakh.
The Payment of Gratuity (Amendment) Bill, 2017 was introduced by Labour Minister Santosh Kumar Gangwar in the House, amid continued sloganeering by opposition members and counter-slogans by those of the BJP.
Who gains
The Payment of Gratuity Act 1972 was enacted to provide for gratuity payment to employees engaged in factories, mines, oilfields, plantations, ports, railway companies, shops or other establishments. It is applicable to employees who have completed at least five years of continuous service in an establishment that has ten or more persons.
How to calculate gratuity
With respect to gratuity, the amount is calculated on the basis of a formula which is 15 days of wages for each year of completed services, subject to the ceiling of Rs 10 lakh. This limit was fixed in 2010. Therefore, considering the inflation and wage increase even in case of employees engaged in private and public sector, the entitlement of gratuity is also required to be revised for employees who are covered under the Act. It has also been proposed to empower the central government to notify the ceiling proposed, instead of amending the said Act, so that the limit can be revised from time to time keeping in view the increase in wage and inflation, and future Pay Commissions," it is also said.
Maternity benefits
The government also introduced a bill in the Lok Sabha that will allow it to notify the period of maternity leave and gratuity that can be availed by employees under a central law. According to the Statement of Objects and Reasons of the bill, the amendment would allow the central government to notify the maternity leave period for "female employees as deemed to be in continuous service in place of existing twelve weeks".
Maternity leave
The proposal comes against the backdrop of the Maternity Benefit Act (Amendment) Act, 2017 enhancing the maximum maternity leave period to 26 weeks. "It is therefore proposed to empower the central government to enhance the period of existing twelve weeks to such period as may be notified by it," read a statement.
OneIndia News
