Piyush Goyal said, The ceiling of payment of gratuity has been enhanced from Rs 10 lakhs to Rs 20 lakhs.
According to the Payment of Gratuity Act, 1972, any employee who worked for at least five years in an establishment, which employs at least 10 people, is eligible to get gratuity (Representational Image)
New Delhi: The government on Friday decided to hike the gratuity limit from Rs 10 lakh to Rs 20 lakh bringing cheer to lakhs of employees.
Presenting the interim Budget for 2019-20, finance minister Piyush Goyal said, “The ceiling of payment of gratuity has been enhanced from Rs 10 lakhs to Rs 20 lakhs.” The gratuity amount is payable to the employees on superannunation or resignation. According to the Payment of Gratuity Act, 1972, any employee who worked for at least five years in an establishment, which employs at least 10 people, is eligible to get gratuity
( Source : Deccan Chronicle. )
Next Story
