Gratuity, Bonus
Course Content
Broad fundamentals & compliance aspects of the following would be covered in this Seminar
KEY POINTS under various acts:
PF – PROVIDENT FUNDS & MISCELLANEOUS PROVISIONS ACT
- How to Calculate Pension under Employees’ Pension Scheme ?
- How to Calculate EDLI (Employee Deposited Linked Insuranc e) as per amendment under PF Act?
- What is the minimum and maximum amount of EDLI is payable under PF Act?
- What is the interest rat e announced for year Yr. 2023-24?
- Under PF in the year 2021 – 2022, and onwards if employees contribution is more than Rs.2,50,000/- then whether on additional contribution, whether TDS will be deducted?
- PF dues payment has to be made on or before which date?
- What is Interest and Damages rat e for delay payment of contribution?
- If any employee has joined his first employment after 1st Sept, 2014 and his salary is more than Rs.15,000/- (Basic +DA) then pension contribution has to be deducted or not?
- Latest Update on Provident Fund as per the Financ e Minister Budget for 2021 – 2022: There will be no impact of TDS for those contributing up to Rs. 20,833/- pm (Rs. 2.50 lakh pe r year) AND detailed comparison (calculation) of interest, if monthly contribution paid is more than (Rs. 20,833/-)
- Detail study on: Hon’ble Supreme Court Judgement of 28th Feb 2019 for Basic Wages for contribution of monthly PF.
- Which allowanc e are to be clubbed for calculation of Provident Fund?
EMPLOYEES’ STATE INSURANC E AC T
- How to count 10 person’s for applicability of ESI Act, as per recent amendments under ESI Act for Shops and Establishment in Maharashtra State?
- ESIC: – Documents for Registration / obtaining Code Number.
- What is the increase coverable limit of ESI w.e.f from 1st January 2017?
- Detail study on various benefit under ESI Scheme (Total 10 Benefits)
- ESI is applicable on which Salary/wages component?
- Which allowances are excluded under ESIC?
- Under ESI Act, how many weeks, maternity benefits are payable?
- Under ESI Act, how many weeks benefits for miscarriage are payable?
- ESI dues payment has to be made on or before which date?
- What is Interest and Damages rat e for delay payment of contribution?
- Unemployment benefit – payable under the ESI Ac t? & When?
- Whether voluntary coverage under possible under ESI?
- ESI Covered Employees after retirement – what is the eligibility criteria.
- Whether ESIC Act is Applicable after attaining the 65 years of age.
- An employee covered under ESIC has expired at his residence (natural death) whether his family members are entitled for Funeral expenses & Pension also?
- Whether ESI is applicable on Conveyance or Travelling Allowanc e?
- How many diseases are covered under ESI Ac t?
Payment of Gratuity Act
- When Gratuity is applicable and payable?
- How to calculate payment of gratuity?
- Gratuity is payable on which components of salary?
- What is the maximum limit under the Gratuity Act, for which Incom e tax exemption can be claimed?
- Whether Employer can pay more amount of Gratuity then prescribed under the Ac t? If yes under what circumstances?
- If monthly salary is Rs. 1.50 Lac (Basic + DA) then whether gratuity is payable?
- When Gratuity is Payable and forfeited?
- In which State’s Gratuity Insuranc e is mandatory?
The Payment of Bonus Act
- Bonus is payable on which components of salary?
- Minimum number of attendances required for eligibility of bonus.
- Bonu s is Payable on Rs. 7,000/- or minimum wages under schedule employment when Basic + DA is Rs. 25,000/-
- Whether monthly Bonus is payable under the Bonus Act? If yes, then how?
- What is salary/wages (Basic + D.A) limit and on what amount Bonu s is calculated.
- Is there a limit for ex-gratia payment? Is it compulsory?
- What is the last date of payment of bonus for the year April 2022 to March 2023?
- Which register to be maintained under Payment of Bonus Act?
- Whether annual return under Payment of Bonus Act, has to be filed, and if yes, what will be for m no.?
- What is the last date for filing Bonus Return?
The Code on Wages
- Detail Highlights on New Code on Wage.
- Under Code on Wages, what will be the percentage of Basic + D.A. + Retention Allowances?
- What will be impact on take home salary?
- Whether Labiality under Payment of Gratuity will be increase for Old Employees?
- What will be the last date for making payment of salary / wages under Code on Wage, 2019, if number of employees are more than 1000?
- Overtime will be calculated on which Salary / Wages component?
- For doing overtime, whether consent of employee is required?
- Salary / wages limit for payment of bonu s?
- Whether Gratuity is payable to fix term employee for one year?
Timings: 10:00 am – 5:00 pm, Registration begins at 9:30 am