Question ID :
44529
Employee Gratuity
A company has taken Emp. Gratuity policy with LIC. For the outgoing employees LIC has remitted the Gratuity to the Trust. However due to Bank account operation issue, they made payment to the outgoing employees from the Company. They have also booked the payment as expense and disallowed the same in the Co. IT return. Now the funds are lying in the Trust. Is there any way out to utilize the Funds with the Trust. Can the Trust remit the money received from the LIC to the Co.
Posted by
CA. VASUDEVAN P K
on
Aug 14, 2023
Filed Under
OTHER BODIES
Answer ID :
85234
Trust should return to employee and employee should return it to company
Posted by
SURAJ KUMAR CHOUDHARY on
Nov 26, 2023