New Delhi: In a good news for government employees of organised sector, the central government has decided to increased the gratuity limit to Rs. 20 lakh from Rs. 10 lakh, on the recommendation of 7th pay commission panel.
The decision came after a meeting between the labour ministry and representatives from states, employees and employers which took place on Thursday. “All the stakeholders—states, Centre, unions and the industry representatives were on the same page to enhance the gratuity ceiling from Rs10 lakh to Rs20 lakh,” a labour ministry spokesperson said after the meeting.
The unions demanded the removal of conditions asking to have at least 10 employees in an establishment and minimum five years of service for payment of gratuity. Business portal NDTV profit quoted Manoj Nagpal, CEO of Outlook Asia Capital, saying it is not advisable to put money entirely into debt as, “chances are that one might run out of his/her corpus.” He added, “They have to plan for next 20-25 years as the life expectancy has increased significantly. It is advisable that a person puts at least 20-25 per cent in equities.”
“While accepting the maximum payment limit of Rs 20 lakh as an interim measure, the unions demanded that the ceilings/ limit with respect to number of employees and years of service should be removed,” the All India Trade Union Congress (AITUC) said in a statement. “The central trade unions have been urging the government that the ceiling in the amount of gratuity should be removed,” the statement further read.
At present, as per the Payment of Gratuity Act, an employee is required to do a minimum service of five years to become eligible for gratuity amount. Moreover, the Act applies to those establishments where the number of employees is not less than 10.The statement said the application of amended provision regarding maximum amount should be made effective from January 1, 2016 as done in the case of central government employees.
LATEST NEWS ON LTC
LATEST NEWS ON DEARNESS ALLOWANCE
RETIREMENT AGE FOR CENTRAL STAFF
REDUCE RETIREMENT AGE FOR NEW CENTRAL EMPLOYEES FROM 1/1/2016 NO PROPOSAL TO INCREASE RETIREMENT AGE FOR CENTRAL GOVERNMENT EMPLOYEES J&K govt increases retirement age from 58 to 60 Employees to get pension payment order soon after retirement RAISE THE RETIREMENT AGE TO 65 YEARS Central govt employees’ retirement age to be extended by 2 years to 62 Union government wants retirement age 62 Cabinet decision to increase retirement age deferred Govt not considering to raise retirement age to 62 yrs
MACPS/ACPS for the Central Government Civilian Employees – Regarding MACP Scheme - treatment of employees appointed through LDCE/GDCE against Promotee Quota vacancies at par with those selected against DR/LDCE quota vacancies —reg. CENTRAL GOVERNMENT EMPLOYEES DEMANDS ON MACP MODIFIED ASSURED CAREER PROGRESSION SCHEME FOR MULTI TASKING STAFF Modified Assured Career Progression Scheme for the Central Government Civilian Employees SUMMARY RECORD OF DISCUSSIONS HELD DURING THE THIRD MEETING OF THE JOINT COMMITEE ON MACPS LATEST FAQ ON MACP FOR CENTRAL GOVT EMPLOYEES
MACP FOR CENTRAL GOVT EMPLOYEES
Restructuring of cadre of Artisan Staff in Defence Establishment in modification of recommendation of 6th CPC Modified ACP Scheme (MACPS) for Railway employees- clarification-NFIR IMPORTANT DEMANDS OF THE RAILWAYMEN TO BE PURSUED BY THE ALL INDIA RAILWAYMEN’S FEDERATION
7 CPC HRA 7 TH CPC REPORT 7CPC ARREARS 7TH CENTRAL PAY COMMISSION 7th CPC 7th cpc allowances 7th cpc anomalee committee 7TH CPC BUNCHING BENEFIT 7th cpc da 7th cpc defence matrix table 7TH CPC LATEST NEWS 7th PAY COMMISSION ADVANCE AICPIN ALLOWANCE BANK EMPLOYEES CENTRAL GOVERNMENT CIVILIAN EMPLOYEES. CENTRAL GOVERNMENT EMPLOYEES CGHS CHILD CARE LEAVE children education allowance DA JULY 2017 DEARNESS ALLOWANCE DOPT HOLIDAY HOMES MACP MINIMUM PENSION NATIONAL PENSION SYSTEM NC JCM PENSIONERS PORTAL RAILWAYS REDUCE RETIREMENT AGE FROM 60 TO 58 SEXUAL HARASSMENT AT WORK PLACES WOMEN EMPLOYEES