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MEANING:
• Something given voluntarily or beyond obligation,
usually in response to or in anticipation of service.
• a gift of money, over and above payment due for
service.
• a relatively small amount of money given for
services rendered.
When are you entitled?
• Gratuity in earlier days was rather arbitrary and
completely hostage to the whims of the employer.
• This led to a lot of discord and finally the
government stepped in, passing the Payment of
Gratuity Act, 1972, making it mandatory for all
employers with more than 10 employees to give
them gratuity.
• Employees, as defined here, are the ones hired on
company payrolls. Trainees are not eligible and
gratuity is paid on the basis of the employee's
basic plus dearness allowance if any.
How much can you get?
You become entitled to a gratuity :
• on resignation or
• on retirement after five years or more of service