B Com Exam > B Com Videos > Industrial Laws > Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws
Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws Video Lecture | Industrial Laws - B Com
|
54 videos|46 docs|18 tests
|
FAQs on Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws Video Lecture - Industrial Laws - B Com
| 1. What is the Payment of Gratuity Act (1972)? |  |
Ans. The Payment of Gratuity Act (1972) is an Indian legislation that ensures the payment of gratuity to employees after they complete a minimum of five years of continuous service with an employer. It provides a retirement benefit in the form of a lump sum amount to employees, which is paid by the employer.
| 2. Who is eligible to receive gratuity under the Payment of Gratuity Act (1972)? | |
Ans. According to the Payment of Gratuity Act (1972), all employees working in factories, mines, oil fields, plantations, ports, railway companies, shops, or other establishments with ten or more employees are eligible to receive gratuity. However, they must have completed a minimum of five years of continuous service with the employer to be eligible.
| 3. How is the amount of gratuity calculated under the Payment of Gratuity Act (1972)? | |
Ans. The amount of gratuity payable under the Payment of Gratuity Act (1972) is calculated based on the employee's last drawn salary and the number of years of completed service. The formula for calculating gratuity is as follows: (last drawn salary × 15/26) × number of years of service.
| 4. Is there any maximum limit on the amount of gratuity under the Payment of Gratuity Act (1972)? | |
Ans. Yes, there is a maximum limit on the amount of gratuity that can be paid under the Payment of Gratuity Act (1972). As per the Act, the maximum amount of gratuity payable is ₹20 lakh. Even if an employee's last drawn salary and years of service result in a higher gratuity amount, the maximum limit of ₹20 lakh will apply.
| 5. What are the circumstances under which an employee can forfeit their gratuity under the Payment of Gratuity Act (1972)? | |
Ans. An employee can forfeit their gratuity under the Payment of Gratuity Act (1972) if they have been terminated from employment due to any act of willful negligence causing damage or loss to the employer's property. Additionally, if an employee has been terminated for any other reason specified in the Act, such as disorderly conduct or committing an offense involving moral turpitude, they may also forfeit their gratuity.
Related Exams
About this Video
|
4.75/5 Rating |
|
Nov 23, 2024 Last updated |
Video Description: Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws for B Com 2024 is part of Industrial Laws preparation.
The notes and questions for Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws have been prepared according to the B Com exam syllabus.
Information about Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws covers all important topics for B Com 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws.
Introduction of Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws in English is available as part of our Industrial Laws for B Com & Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws in
Hindi for Industrial Laws course. Download more important topics related with notes, lectures and mock test series for
B Com Exam by signing up for free.
Description
Video Lecture & Questions for Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws Video Lecture | Industrial Laws - B Com - B Com full syllabus preparation | Free video for B Com exam to prepare for Industrial Laws.
Information about Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws
Here you can find the meaning of Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws defined & explained in the simplest way possible.
Besides explaining types of Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws theory, EduRev gives you an ample number of questions to practice Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws tests,
examples and also practice B Com tests.
|
54 videos|46 docs|18 tests
|
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Viva Questions
,Exam
,Industrial Laws Video Lecture | Industrial Laws - B Com
,Important questions
,shortcuts and tricks
,Summary
,Sample Paper
,Extra Questions
,past year papers
,Semester Notes
,study material
,MCQs
,practice quizzes
,Payment of gratuity - Payment Of Gratuity Act(1972)
,Industrial Laws Video Lecture | Industrial Laws - B Com
,video lectures
,Industrial Laws Video Lecture | Industrial Laws - B Com
,Payment of gratuity - Payment Of Gratuity Act(1972)
,Payment of gratuity - Payment Of Gratuity Act(1972)
,Objective type Questions
,Free
,Previous Year Questions with Solutions
,mock tests for examination
,ppt
,
Study Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws on the App
Students of B Com can study Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Payment of gratuity - Payment Of Gratuity Act(1972), Industrial Laws is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup