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Oct 30, 2024

Karnataka Revises Duration for Obtaining Gratuity Insurance Policy

The Government of Karnataka by way of Corrigendum dated July 4, 2024, has revised the timeline for obtaining an insurance policy under the Karnataka Compulsory Gratuity Insurance Rules, 2024 (‘KCGI Rules’), framed under the Payment of Gratuity Act, 1972. The Government of Karnataka has clarified that the timeline for obtaining the gratuity insurance policy under the KCGI Rules is six months and not 60 days for pre-existing establishments from the date of commencement of the KCGI Rules (i.e., January 10, 2024). The extension through the Corrigendum is only for the existing establishments. As far as any new establishments are concerned, the stipulated period of 30 days will continue to be applicable.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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