WTW Webinar: Government of Karnataka Compulsory Gratuity Insurance Rules, 2024

On January 10, 2024, the Government of Karnataka (‘GoK’) issued Notification No LD 397 LET 2023 under the stamp and seal of the Under Secretary to Government, Department of Labour, giving legislative sanction to the Karnataka Compulsory Gratuity Insurance Rules, 2024 (‘Rules’). GoK has effectively notified the Rules relating to Compulsory Insurance, for the State of Karnataka, and covered issues like applicability of compulsory insurance to establishments, the need to establish an Approved Gratuity Trust for certain establishments, compulsory registration of covered establishments with the Controlling Authority, fully covering gratuity liabilities, and framing of a Board of Trustees and governance.

Organisations should grasp the implications of how the Rules would affect them, and subsequently, assess whether obtaining an insurance coverage and / or establishing an income-tax approved gratuity trust is necessary.

WTW conducted this webinar on 6 February 2024. The webinar discussed in detail the recent development, along with applicability, choices, repercussions of choices, adherence to timelines and best practices around the Rules.

Please fill the form on the webpage to view the on-demand webinar.

For more information, please write to us at wtwindia@willistowerswatson.com.