Group Gratuity Scheme
- Group Gratuity Scheme cover Gratuity Benefits as well as provide protection to family through life insurance cover in the event of unfortunate death.
- The scheme can be enhanced with rider plans to cover accidental death benefit, accidental disability benefit.
- The gratuity contribution are allowable expenses under Income Tax Act 1961, to the employer.
- The Gratuity Benefits and the insurance claim proceeds if any, as received by the employees, are exempted from Income Tax too.