H. S. Thukral
(Expert) 19 March 2008
Payment of Gratuity Act is applicable to all factories and shops and establishments employing more than 10 employees. Gratuity is payble to all employees who have completed minimum service of five years @ 15 days wages for every completed year of service.
manmeet singh arora
(Expert) 20 March 2008
Dear Krunal, 1.THE PAYMENT OF GRATUITY ACT,1972 SHALL BE APPLICABLE TO CLASS OF ESTABLISHMENTS IN WHICH 10 OR MORE EMPLOYEES ARE EMPLOYED,OR WERE EMPLOYED ON ANY DAY OF THE PRECEDING 12 MONTHS,AS CENTRAL GOVERMENT MAY BY NOTIFICATION SPECIFY IN THIS BEHALF 2.GRATUITY SHALL BE PAYABLE TO AN EMPLOYEE ON THE TERMINATION OF HIS EMPLOYMENT AFTER HE HAS RENDERED CONTINUOUS SERVICE FOR NOT LESS TAHN 5 YEARS 3.ON HIS SUPERANNUATION 4.ON HIS RETIREMENT OR RESIGNATION 5.ON HIS DEATH OR DISABLEMENT DUE TO ACCIDENT OR DISEASE
(Expert) 27 July 2008
Gratuity is a lump sum amount that your employer pays you when you retire or resign from the organization. An Employee does not contribute any portion of his salary towards this amount. You need to have at least five full years of service with an employer to qualify for gratuity. This rule is relaxed in the last instance. In the event of your death, the gratuity will be paid to your nominee.