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Latest News: If you desire to send Donation by Cheque OR NEFT please do as under cheque: General Insurance Pensioners Assn(WZ). For NEFT. A/c no.0108101600181 - IFSC CODE: CNRB0000108, Bank - Canara bank. Thanks -- Gipsa Staff Group Mediclaim Policy. General Terms & Conditions -- 11th AGM of General Insurance Pensioners association Northern Zone held at Scope Minar Auditorium, Laxmi Nagar Delhi on 6ht September -- AGM of Aam Vima Seva Nuvrita Karmachari Samiti, Jodhpur -- Annual Get together of GIPA WZ Mumbai Unit held on 28th September, 2024 -- KING OF SPADE
Home Enhancement in gratuity from 1st Jan-16 (Bankers are also entitled)

Enhancement in gratuity from 1st Jan-16 (Bankers are also entitled)

“The bill to amend the Payment of Gratuity Act has been considered and approved by the Union Cabinet in its meeting After the amendment in the Act, formal sector workers would be eligible for up to Rs. 20 lakh tax-free gratuity. Last month, the central trade unions had agreed on the proposal in a tripartite consultation with the Labour Ministry.

  1. While there should be no ceiling for Gratuity, as an interim measure, Government’s proposal to increase in the ceiling of Rs. 20 lacs has been accepted.
  2. The revised ceiling would be made effective from January 2016.
  3. Minimum service of 5 years for eligibility for Gratuity will be removed.
  4. Gratuity to be paid at 30 days wage per year instead of 15 days wage as at present.

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  • General Insurance Pensioners Association
    Sterling Cinema Building
    3rd Floor, 65,
    Murzban Road
    Fort
  • 022 22070058
    022 22073508