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Enhancement of Gratuity on account of Dearness Allowance rising by 50%

Contents News/Article Date: 30th April   2024

Relating to which Act: Jam Payment of Gratuity Act, 1972  

Penalty under the Act – An employer who contravenes any provisions of the Act shall be liable for imprisonment for a term of not less than three months but which may extend to one year or with fine which shall not be less than ten thousand rupees but which may extend to twenty thousand rupees or with both.

Applicable to which State: Whole of India   

Type: Ministry of Labour & Employment, Government of India, EPFO Office Order No. HRD/1/8/2024/Misc/Circulars/Part 1/ 1004 issued by Additional Central PF Commissioner (HR)

Pertains to: Establishments and Employees to whom the Act is applicable  

Relevance of this news: Karma Global is in the business of HR Services, Payroll, Outsourcing, and Regulatory Compliances right from its inception in 2004 and since then,  has brought in a lot of efficiencies and technological upgradations with experts on its roll, to ease the hassles of Payroll Processing, Temp Staffing,  On-boarding, Employee Life Cycle, Statutory,  Regulatory and Payroll compliances by providing customized solutions to all its elite clients.

Karma Global has set up its offices in the UK, USA, UAE, Canada, and South East Asia and is fully into providing solutions for workplace issues, employment law advice, immigration and negotiation, representation in employment tribunals and involvement in leading cases, addressing HR issues in line with Labor Laws, payroll, staffing and talent acquisition.

And in the current instance       

Accordingly, the maximum limit of retirement gratuity and death gratuity shall be increased by 25% to Rs.25 lakh from the existing Rs. 20 lakh on account of the revision of Dearness Allowance payable to Central Government employees to 50% of the basic pay wef 1/1/2024 subject to other conditions

Subject Enhancement of Gratuity on account of Dearness Allowance rising by 50%En

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