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Gratuity Plan
Gratuity Plan
At Right Advisorz, we understand the importance of financial security for both employers and employees. A well-structured Gratuity Plan is a crucial part of any comprehensive employee benefits package, rewarding long-term employees for their loyalty and service. Our expert team helps you design and implement gratuity plans that not only meet statutory requirements but also provide financial security for employees, enhancing your company's attractiveness as a workplace.A gratuity is a lump-sum payment made by employers to employees as a token of appreciation for their years of service. It is a statutory benefit under Indian law, and any employer with 10 or more employees is required to provide gratuity after a minimum of five years of continuous service.
Our Gratuity Plan Services
Gratuity Calculation and Structuring
We help you accurately calculate the gratuity payable to employees based on their salary and years of service, ensuring compliance with statutory regulations. We also assist in structuring gratuity payouts in a way that benefits both the employer and the employees.
Gratuity Funding and Investment Options
To manage gratuity liabilities effectively, we offer consultation on funding options, including creating a gratuity fund or purchasing group gratuity insurance plans. We also provide investment advice to grow the fund while maintaining liquidity for future payouts.
Gratuity Policy Drafting
A clear and well-communicated gratuity policy is key to ensuring transparency. We assist in drafting a comprehensive gratuity policy that outlines eligibility criteria, payment terms, and conditions in accordance with legal requirements and your company’s goals.
Gratuity Trust Formation
For businesses looking to establish a gratuity fund, we help in the formation of a gratuity trust, a legal entity that holds and manages gratuity payments. This ensures that the gratuity fund is managed separately and efficiently, safeguarding employee benefits.
Employee Communication and Support
Employees should be well-informed about their gratuity benefits. We offer communication support, including informational sessions and documentation, to ensure that employees understand their entitlements and the process for claiming gratuity.
Gratuity Payout Management
We assist in the seamless execution of gratuity payouts, ensuring that employees receive their benefits without delays or complications. Our team ensures timely and accurate disbursement of gratuity funds at the time of retirement or resignation.
Why Choose Right Advisorz for Insurance Needs Analysis?
At Right Advisorz, our Insurance Needs Analysis service is about giving you the peace of mind that comes with knowing your financial future is secure.
Customized Solutions
Each insurance plan is tailored to your personal financial situation and future goals.
Expert Guidance
Each insurance plan is tailored to your personal financial situation and future goals.
Comprehensive Approach
Comprehensive coverage: income protection, health, retirement, and asset security.
Affordable Coverage
Affordable coverage options tailored to your budget with full protection.
