Gratuity is a payment received by an individual for their past services rendered to an organization, typically before or upon their retirement. In the Income Tax Act of 1961, there are provisions that determine the taxability of gratuity amounts. These provisions differentiate between government emp...

The amount that you contribute through your employer towards your provident fund every month not only helps create a retirement corpus for you but also financial security net for your family. Besides monthly pension paid to employees at retirement (58 years of age), it is also paid to family members...

The state government has drafted the Domestic Workers (Regulation and Welfare) Act to protect domestic workers’ rights in Kerala, and provide them job security and pension....

The Employees’ Provident Fund Organization (EPFO) has around Rs.27,000 crore lying in inoperative accounts. There are chances that a small portion of this unclaimed money is yours. Many employees feel that the EPF account transfer is a cumbersome process and is a painful experience. It is often ob...

The government had last year allowed employees to withdraw from their provident fund account in case they needed emergency funds due to financial stress caused by the covid-19 pandemic. Under the provision, a member of the Employees’ Provident Fund Organisation (EPFO) can withdraw up to 75% of h...

From a tax perspective, as per Section 10(12) read with Rule 8 of Part A of Fourth Schedule of the Income Tax Act, 1961, the accumulated PF balance due and payable to the employee is exempt from tax if he has rendered continuous service for a period of five years or more. Where there are […]...