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Question
The eligibility condition for obtaining gratuity under the Payment of Gratuity Act, 1972 is ___________________.
The eligibility condition for obtaining gratuity under the Payment of Gratuity Act, 1972 is ___________________.
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Solution
The correct option is D Completion of 5 years of Service
Gratuity is a type of after service payment to the employees who have fulfilled certain conditions of the job. According to the Payment of the Gratuity Act, 1972 the maximum amount of gratuity which can be paid to a employee is 10 lakh rupees only after completion of a qualifying service of 5 years.
Gratuity is a type of after service payment to the employees who have fulfilled certain conditions of the job. According to the Payment of the Gratuity Act, 1972 the maximum amount of gratuity which can be paid to a employee is 10 lakh rupees only after completion of a qualifying service of 5 years.
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