Query on Gratuity - Accounting - Accounts 27 June 2025 Dear Experts, For our Gratuity the plan assets is LIC. So we make contributions every year and the amount is reduced from our Gratuity provision in Books. Now, One employee transferred from Group company to our company. So the gratuity of his is transferred to our LIC Account. Now, the LIC Fund statement shows the premium received is Rs 39 lacs paid by us from our bank account. And the gratuity of the employee Rs 2 lacs is also shown as ...
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Who is eligible to register for the LIC Online Portal? The LIC Online Portal is open to all customers who hold insurance policies with LIC. To register, users need to complete a form with a chosen user ID and password. After confirming their policies, users can enroll them by providing necessary details. Multiple policies can be added by submitting policy numbers and premiums. The portal provides access to policy information, premium status, loan, revival, maturity calendar, and more. How do ...
I had LIC maturity amount of 10 Lakh credited in 2021 which is tax free as per rules as premium was less than 10 of sum assured And that s why TDS also not deducted ...
LIC/any other approved fund may pay pension to an individual from the funds contributed by the employer. Commuted pension received from such fund is exempt whereas uncommuted pension from such fund is taxable under the head 'Income from Salaries'.