KSR & Co Company Secretaries LLP

PRACTISING COMPANY SECRETARIES & TRADE MARK AGENTS

Be gratuitous to pay Gratuity

Payment of Gratuity was introduced as an act of expressing gratitude by the employer for the services rendered by those employees who have served an organisation for a continuous period of five years. Netaji Subhash Chandra Bose was a key proponent of securing monetary benefits for workmen and during his era as the trade union leader in Tata Steel, retiring gratuity benefits were paid to workers in 1937, 35 years before the Payment of Gratuity Act was enacted in 1972 [”Gratuity Act”].

                                                                                                                   ……. Read more