AIBOC CIRCULAR NO. 69 DATED 20TH MAY 2010

AIBOC issued its circular No. 69 on Amendments to Payment of Gratuity Act 1972. We are reproducing the same here for our readers.

CIRCULAR NO: 69                                  20^TH MAY, 2010

TO ALL AFFILIATES/ MEMBERS:

AMENDMENTS TO PAYMENT OF GRATUITY ACT 1972

We took up the issue of revision in ceiling on Payment and Gratuity Act 1972, with Shri. Harish Rawat, Hon’ble Minister of State for Labour and Employment vide our letter No. 1410/140/10 dated 04.05.2010, requesting him to effect the revised ceiling of Rs. 10/- lacs approved by the Lok Sabha and Rajya Sabha, from 1^st January, 2006.

We are glad that, Hon’ble Minister has responded positively to our request. A D.O letter No. 2/10/MOS/L&E/VIP/2010 dated 13.05.2010 received from Shri. Harish Rawat, Hon’ble Minister is enclosed for your information. 

We are glad that, in the Gazette of India, dated 18.05.2010, the following notification has been issued by the Ministry of Law and Justice.

Quote                        

“ MINISTRY OF LAW AND JUSTICE

(Legislative Department)

New Delhi, the 18^th May, 2010/Vaisakha 28, 1932 (Saka)

          The following Act of Parliament received the assent of the President on the 17^th May, 2010 and is hereby published for general information:-

THE PAYMENT OF GRATUITY (AMENDMENT) ACT, 2010

 (No. 15 OF 2010)

[17^th May, 2010]

An Act further to amend the Payment of Gratuity Act, 1972.

Be it enacted by Parliament in the Sixty – first Year of the Republic of India as follows:-

1.       (1) This Act may be called the Payment of Gratuity (Amendment) Act, 2010.                     (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.	Short title and commencement
2.       In section 4 of the Payment of Gratuity Act, 1972, in sub-section (3), for the words “three lakhs and fifty thousand rupees”, the words “ten lakh rupees” shall be substituted.	Amendment of section 4 of Act 39 of 1972.
Unquote                                                         V.K.BHASIN,                                     Secy. To the Govt. of India	”

We are following up the matter with the concerned Ministry and advise the outcome later.

With warm greetings,

Sd/-

(G.D. NADAF)

GENERAL SECRETARY

                              

Encl: a\a