LIC gratuity fund

For Employees benefit we are mantaining a Gratuity fund with LIC. In 2015 march they gave a interest of 8.35% and in 31/3/2016 8% which maybe due to reduction of interest.

However, from March 2016 they are charging a fund management charge and we have recieved interest only 7%. They have not charged any fund management charge earlier. With such low interest we are not interested to continue with LIC and so please inform if there is any other alternative. Please give suitable suggestion
Asked 1 year ago in Income Tax from Kolkata, West Bengal
Sorry, This seems to be a finance question. My other Finance colleague would be better equipped to answer this question.
Abhishek Dugar
CA, Mumbai
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Gratuity every where the rates are equal as rates are fixed by govt.
Shyam Sunder Modani
CA, Hyderabad
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Hello Sir,

If you are not comfortable with the ROI, you may shift the fund to some other house, but I doubt if you will benefit out of it as the rates would be the same.

Trust this clarifies your query. 

Feel free to call back/ get back in case of further clarifications. 

Thanking You. 

Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP.
Rohit R Sharma
CA, Mumbai
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