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Payment of Gratuity

Gratuity Policy 

 

Gratuity shall be payable to an employee as per the payment of Gratuity Act, 1972 on the completion of his/her employment after he/she has rendered continuous service for not less than five years.

(a)   On his superannuation, or

(b)   On his retirement or

(c)   Resignation, or

(d)   On his death or

(e)   Disablement due to accident or disease.

 

Provided that the completion of continuous service of five years shall not be necessary where the termination of the employment of any employee is due to death or disablement.

 

The present rate of Gratuity is maximum of Rs. 3.50/- Lacs.

 

 

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