CA Intermediate Exam > CA Intermediate Videos > Corporate & Other Laws for CA Intermediate > Payment of Gratuity Act 1972
Payment of Gratuity Act 1972 Video Lecture | Corporate & Other Laws for CA Intermediate
|
39 videos|62 docs
|
FAQs on Payment of Gratuity Act 1972 Video Lecture - Corporate & Other Laws for CA Intermediate
| 1. What is the Payment of Gratuity Act, 1972? |  |
Ans. The Payment of Gratuity Act, 1972 is a legislation in India that provides for the payment of gratuity to employees in certain sectors upon termination of their employment. The Act ensures that employees receive a monetary benefit as a token of appreciation for their service, which is payable after completing a minimum of five years of continuous service with the employer.
| 2. Who is eligible to receive gratuity under the Payment of Gratuity Act, 1972? | |
Ans. An employee is eligible to receive gratuity under the Act if they have completed a minimum of five years of continuous service with the same employer. This applies to employees in factories, mines, oilfields, plantations, ports, railway companies, and other establishments as defined in the Act.
| 3. How is the amount of gratuity calculated under the Payment of Gratuity Act, 1972? | |
Ans. The amount of gratuity is calculated using the formula: Gratuity = (Last drawn salary × 15/26) × Number of years of service. Here, the last drawn salary refers to the basic salary plus dearness allowance, and the '15/26' factor is used to calculate gratuity for every completed year of service.
| 4. What are the different types of termination that qualify for gratuity under the Payment of Gratuity Act, 1972? | |
Ans. Gratuity is payable upon termination of employment due to various reasons, including retirement, resignation, termination due to death, disability, or retrenchment. Each of these scenarios qualifies for gratuity, provided the employee has completed the requisite five years of service.
| 5. What are the responsibilities of employers under the Payment of Gratuity Act, 1972? | |
Ans. Employers are responsible for ensuring that gratuity is calculated and paid to eligible employees upon termination of employment. They must maintain records of service and salary, file necessary returns, and comply with the provisions of the Act by making timely payments to employees entitled to gratuity.
Related Exams
About this Video
|
Nov 19, 2024 Last updated |
Video Description: Payment of Gratuity Act 1972 for CA Intermediate 2024 is part of Corporate & Other Laws for CA Intermediate preparation.
The notes and questions for Payment of Gratuity Act 1972 have been prepared according to the CA Intermediate exam syllabus.
Information about Payment of Gratuity Act 1972 covers all important topics for CA Intermediate 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Payment of Gratuity Act 1972.
Introduction of Payment of Gratuity Act 1972 in English is available as part of our Corporate & Other Laws for CA Intermediate for CA Intermediate & Payment of Gratuity Act 1972 in
Hindi for Corporate & Other Laws for CA Intermediate course. Download more important topics related with notes, lectures and mock test series for
CA Intermediate Exam by signing up for free.
Description
Video Lecture & Questions for Payment of Gratuity Act 1972 Video Lecture | Corporate & Other Laws for CA Intermediate - CA Intermediate full syllabus preparation | Free video for CA Intermediate exam to prepare for Corporate & Other Laws for CA Intermediate.
Information about Payment of Gratuity Act 1972
Here you can find the meaning of Payment of Gratuity Act 1972 defined & explained in the simplest way possible.
Besides explaining types of Payment of Gratuity Act 1972 theory, EduRev gives you an ample number of questions to practice Payment of Gratuity Act 1972 tests,
examples and also practice CA Intermediate tests.
|
39 videos|62 docs
|
|
Explore Courses for CA Intermediate exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
mock tests for examination
,Viva Questions
,shortcuts and tricks
,ppt
,Semester Notes
,Extra Questions
,study material
,Exam
,MCQs
,Previous Year Questions with Solutions
,Summary
,video lectures
,Payment of Gratuity Act 1972 Video Lecture | Corporate & Other Laws for CA Intermediate
,past year papers
,Payment of Gratuity Act 1972 Video Lecture | Corporate & Other Laws for CA Intermediate
,Sample Paper
,Payment of Gratuity Act 1972 Video Lecture | Corporate & Other Laws for CA Intermediate
,Important questions
,Objective type Questions
,practice quizzes
,Free
;
Study Payment of Gratuity Act 1972 on the App
Students of CA Intermediate can study Payment of Gratuity Act 1972 alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Payment of Gratuity Act 1972,
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 Act 1972 is prepared as per the latest CA Intermediate 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