GRATUITY

The payment of Gratuity Act, 1972 provides a statutory right to an employee in service for more than five years to gratuity. It is one of the retirement benefits given to the employee. It is a lumsum payment made in a gesture towards the employee for their service. The amount of the gratuity towards the employee for their service. The amount of gratuity increases with the increment and number of years of service.

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