The Payment of Gratuity Act, 1972 provides for a lump sum payment to employees on retirement or resignation.
1. Payment of gratuity to employees 2. Eligibility criteria for gratuity payment 3. Calculation of gratuity 4. Time limit for payment of gratuity
1. Establishments with 10 or more employees 2. Factories, shops, and other establishments
1. Payment of gratuity to employees 2. Financial security for employees and their families 3. Improved employee morale and motivation 4. Compliance with labor laws
1. Pay gratuity to eligible employees 2. Calculate gratuity correctly 3. Maintain records and registers 4. Comply with inspection and certification requirements
1. Fines and imprisonment 2. Other legal consequences
1. Payment of gratuity to employees 2. Financial security for employees and their families 3. Improved employee morale and motivation 4. Compliance with labor laws