Tax Benefits

As per the applicable tax laws. Tax benefit is subject to change in tax laws from time to time.

For Employer

• The initial and Annual contributions made through an approved Gratuity trust can be claimed as business expenditure as per the provisions under section 36 (1) (v) of the Income Tax Act, 1961 subject to maximum limit of 8.33% of annual salary in respect of each member.
• Income of investments is exempt from tax under section 10(25)(iv) of the Act.

For Employee

• Gratuity benefits are tax free up to Rs. 20,00,000 in the hands of employee.
• The contribution made by the employer is not included in the value of taxable perquisites in the hands of the employee.
• Any death benefit under the Group Term Insurance is tax-exempt under section 10 (10D) of the Income Tax Act, 1961

These tax benefits are as per our understanding of the Income tax Act 1961 and is subject to change. For further details please consult your tax advisor.

Grievance Redressal Processes

In case you have any grievances on the solicitation process or on the Product sold or any of the Policy servicing matters, you may approach the Company in one of the following ways:

• Dial the Customer helpline number 1800-102-2355 for assistance and guidance

• Email at care@generalicentral.com

• Visit us at the nearest Branch Office. Branch locator - https://www.generalicentrallife.com/branch-locator

• Senior citizens can write in at the following ID: senior.citizens@generalicentral.com for priority assistance

• Write to us at: Customer Services Department- Generali Central Life Insurance Company Limited, Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S Marg, Vikhroli (W), Mumbai – 400083

A Group, Non-Linked, Non-participating, (Without Profits), Savings, Life Insurance Plan

Secure your employees’ future while managing your gratuity liabilities with ease. Our Group Gratuity Plan is a smart solution designed to help employers build a corpus for future payouts while offering added life cover for employees.

What this plan offers you:

• Access to a large pooled fund that ensures stable returns and safety through diversification

• In-house investment expertise to professionally manage your funds

• Flexible premium payment options – choose yearly, half-yearly, or quarterly contributions

• Liquidity when you need it – funds are available anytime for benefit payouts

• Uniform life cover of ₹10,000 per member to provide added protection

Whether you’re a growing business or an established organization, if you have 10 or more employees, this plan is made for you. With eligibility starting from age 18 up to 79, and coverage continuing till 80, it’s designed to support a wide workforce demographic.

Empower your employees with peace of mind and future security. This is a powerful way to build trust, loyalty, and long-term commitment.

Disclaimer

Future Generali Group Gratuity Plan (UIN: 133N045V04)

• Tax benefits are subject to change as per tax laws.
• For detailed information on this plan including risk factors, exclusions, terms and conditions etc., please refer to the policy document and consult your advisor, or, visit our website (www.generalicentrallife.com) before concluding a sale. Tax benefits are as per the Income Tax Act 1961 and are subject to any amendment made thereto from time to time. You are advised to consult your tax consultant. Central Bank of India’s and Generali Group’s liability is restricted to the extent of their shareholding in Generali Central Life Insurance Company Limited. If you have any request, grievance, complaint or feedback, you may reach out to us at care@generalicentral.com. For further details please access the link: https://www.generalicentrallife.com/customer-service/grievance-redressal-procedure