Is gratification rule different? Learn the right answer to this question here

If people retire. And the money given to them every month after retirement is called pension. But after leaving the job, which is Rs. This is called gratuity. Not everyone gets gratuity. Some rules were made for this. Gratification is usually given to any employee after retirement. But according to the rules, the graduation can be given before retirement. But it is necessary to complete five years for this work. The payment of gratification law for gratification in India was issued in 1972. Its purpose was to offer them financial benefits. Who have been working in a business for a long time. Let us know who gets gratuity and how it is calculated. Gratification companies give their employees as a reward of the work done by them. Any employee will have to work in that business for five years to get gratuity. Gratification is given to both government and private employees. Gratification and Payment Act apply to all businesses, factories, mines, oil fields, ports, Railways in India. Any company that appoints more than ten employees also enables its employees to pay gratification. Any employee works for five years in any institution. So he becomes entitled to get gratuity. But in many places, gratification is also applied for less than 5 years. According to Article 2A of the Gratification Act, if an employee works in an underground mine, he can take 190 days gratification after 4 years. But apart from this, gratuity is only available after 4 years 240 days, that is, 4 years 8 months. Let us tell you that gratification can only be used after retirement, you cannot utilize it while working in the business. How much gratification will be found after retirement or after leaving the work, it will be easily known. For this, you can find out basic salary and DA, ie Dearness allowance x (15/26) x (how many years work). Your basic salary and DA, for example, means a dear grant of £ 40000. You have been working in the business for ten years. You therefore get 40000 x (15/26) x 10 = 230,769 as gratification. Share this story -tags