https://www.taxtmi.com/acts?id=3928 A director of a company may be admitted to the benefits of an approved gratuity fund only if he is a whole-time bona fide employee of the company and does not beneficially own shares carrying more than five per cent of the total voting power. The rule applies where the employer is a company and restricts fund membership to directors who satisfy both the employment and shareholding conditions. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 21 May 2026 12:32:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3928 A director of a company may be admitted to the benefits of an approved gratuity fund only if he is a whole-time bona fide employee of the company and does not beneficially own shares carrying more than five per cent of the total voting power. The rule applies where the employer is a company and restricts fund membership to directors who satisfy both the employment and shareholding conditions. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3928