WebJan 17, 2024 · Insurance is betw insurance companies and individuals while Reinsurance is a contracts between dual parties where both parties are insurance companies. This blog excuse the significance and difference between insurance and reinsurance. Click on to read continue. In insurance, protection a offered to both people and inventory. WebGratuity is specified in Payment of Gratuity Act 1972. As per gratuity act employee who has completed contineous 5 years service is eligible to receive gratuity @ 15 days wages for per completed year of service. In case of Resignation of your friend, retrenchment compensation is not payable.
Gratuity vs. Pension – Difference Wiki
WebAs nouns the difference between pension and endowment is that pension is a gratuity paid regularly as benefit due to a person in consideration of past services; notably to one retired from service, on account of retirement age, disability or similar cause; especially, a regular stipend paid by a government to retired public officers, disabled soldiers; … WebDifference Between Provident Fund And Gratuity. A PF account receives contributions from both the employer and the employee. But, on the contrary, the gratuity does not … heron woods inverness florida
Difference Between Pension and Gratuity - DifferenceBetween
WebSep 1, 2024 · Gratuity is one of three prevalent retirement benefits in the private sector employment. The other two are “Pensions and Provident Fund”. WebMar 7, 2024 · Such two retirement perks are pension and gratuity. Gratuity is the amount of money earned by an employee as a means of appreciation for his service to the … WebApr 13, 2024 · Gratuity: A gratuity is a compensation an employer gives to a staff member in exchange for long services rendered, services for five years and more. A certain amount of received gratuity is non-taxable. However, an amount above a specific limit is liable to an income tax deduction. Components of Cost to Company. The components of CTC are: heron winter