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of <h1>Rule 104: Employers Can Deduct Initial Gratuity Fund Contributions, Capped at 8 1/3% of Salary Per Past Service Year.</h1> The statutory provision under Rule 104 of the Income-tax Rules, 1962, addresses the allowable deduction for an employer's initial contribution to an approved gratuity fund. This deduction pertains to the past services of an employee who is admitted to the benefits of such a fund. The maximum deduction permissible is limited to 8 1/3 percent of the employee's salary for each year of past service with the employer.
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