Comments on: Retirement Gratuity Ceiling hiked to Rs.20 lakh for bank employees and officers – AIBEA

By: R M Jagtap

R M Jagtap — Sun, 20 May 2018 16:51:37 +0000

I retired as Sr. Manager from BOI on 31.03.2018 upon superannuation. As per gratuity act my eligibility of gratyuity was aaround Rs.23.00 lacs, but received Rs.20.00 lacs as per revised Gratuity Act,2018 w.e.f. 29.03.2018. Now I surprised that my HRMS Deptt., has informed me to pay Income Tax of about Rs.2.12 lacs on Gratuity amount. Kindly guide me the correct position of Tax reliefe available on Gratuity amount to we Bank employees. Kindly convey correct/latest position.

By: NKDas

NKDas — Sat, 05 May 2018 15:50:32 +0000

In reply to 9.

Wrong. See the notification in Ministry of Labour site.It is effective from 29..4.2018

The date referred as 01.01.2016 is meant for Central Govt Employees which was already in force

See the notification in https://www.staffnews.in/2018/04/payment-of-gratuity-amendment-act-2018.html

By: NKDas

NKDas — Sat, 05 May 2018 15:41:47 +0000

In reply to Maya Phadke. Because it involves the lawmakers there will be no difference between any party. For their own benefit they will all stand united and even the apparent show of difference will never come up for public consumption.Even the electoral funding can be legalized with retrospective effect. it is the reason pension/ pay hike all are given with immediate effect. Since salaried employees are employees only. you can not expect benefits as fast as the MPs

By: NKDas

NKDas — Sat, 05 May 2018 15:33:59 +0000

In reply to ajay arya. The silence of AIBEA or UFBU over the earlier claimed effective date of Gratuity amendment in line with 7th Pay commission i.e. 1..01.2016 and then accepting 30.4.2018 as effective date is surprising. It shows also the duplicity of the Central Government by allowing effective date 01.01.2016 to Central Govt Employees and giving another effective date to PSUs including Banks. NBOW earlier had shown its displeasure but now all Unions are silent.

By: Ramesh

Ramesh — Mon, 09 Apr 2018 06:03:18 +0000

It nothing but making fool who retired before 29.3.18
For CENTRAL GOVT emloyees itisapplicable wef 1.1.16.Now we are compelled to think that we are not the citizen of India.Banks union is nothing but group of dumb & deaf.No one is going to bother about employees retired between 1.1.16 and 29.3.18.