{"id":85,"date":"2019-11-18T05:02:16","date_gmt":"2019-11-18T05:02:16","guid":{"rendered":"https:\/\/www.normsmanagement.com\/blog\/?post_type=ufaq&#038;p=85"},"modified":"2024-12-23T10:31:50","modified_gmt":"2024-12-23T10:31:50","slug":"payment-of-gratuity-act-1972","status":"publish","type":"ufaq","link":"https:\/\/www.normsmanagement.com\/blog\/ufaqs\/payment-of-gratuity-act-1972\/","title":{"rendered":"PAYMENT OF GRATUITY ACT, 1972"},"content":{"rendered":"\n<p><strong>Applies to:<\/strong><\/p>\n\n\n\n<p>\u2022&nbsp; Every Factory, Plantation\netc.<\/p>\n\n\n\n<p>\u2022&nbsp; Shops &amp; Establishments if employed 10 or more employees on any day.<\/p>\n\n\n\n<p><strong>Eligibility:<\/strong><\/p>\n\n\n\n<p>\u2022&nbsp; On termination of\nemployment after five years of continuous service due to\nretirement\/resignation\/retrenchment<\/p>\n\n\n\n<p>\u2022&nbsp; No five year condition in\ncase of death, disablement due to accident or disease.<\/p>\n\n\n\n<p>\u2022&nbsp; Quantum:\u2002Fifteen days\nsalary \/ wages (last drawn) for every year of service or part thereof in excess\nof six months.<\/p>\n\n\n\n<p>\u2022&nbsp; Maximum gratuity:\u2002Rs. 20,00,000\/- <br>\n(w.e.f. 29-03-2018)<\/p>\n\n\n\n<p><strong>Calculation: <\/strong><\/p>\n\n\n\n<p>Last month salary (Basic+DA)  divided by 26 * 15 * Number of completed Year of service.  <\/p>\n\n\n\n<p>Due date:\u2002Not later than 30th day from the date of exit from\nemployment.<\/p>\n\n\n\n<p><strong>Other obligations:<\/strong><\/p>\n\n\n\n<p>To display notice of Authorised Persons. <\/p>\n\n\n\n<p>To display abstract of the Act &amp; Rules<\/p>\n\n\n\n<p>Compulsory Insurance for employer\u2019s liability for payment of\ngratuity, by the LIC or by any other prescribed insurer &#8211; w.e.f.19-9-2013.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Applies to: \u2022&nbsp; Every Factory, Plantation etc. \u2022&nbsp; Shops &amp; Establishments if employed 10 or more employees on any day. Eligibility: \u2022&nbsp; On termination of employment after five years of continuous service due to retirement\/resignation\/retrenchment \u2022&nbsp; No five year condition in case of death, disablement due to accident or disease. \u2022&nbsp; Quantum:\u2002Fifteen days salary \/ [&hellip;]<\/p>\n","protected":false},"author":1,"comment_status":"open","ping_status":"closed","template":"","ufaq-category":[5],"ufaq-tag":[],"_links":{"self":[{"href":"https:\/\/www.normsmanagement.com\/blog\/wp-json\/wp\/v2\/ufaq\/85"}],"collection":[{"href":"https:\/\/www.normsmanagement.com\/blog\/wp-json\/wp\/v2\/ufaq"}],"about":[{"href":"https:\/\/www.normsmanagement.com\/blog\/wp-json\/wp\/v2\/types\/ufaq"}],"author":[{"embeddable":true,"href":"https:\/\/www.normsmanagement.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.normsmanagement.com\/blog\/wp-json\/wp\/v2\/comments?post=85"}],"wp:attachment":[{"href":"https:\/\/www.normsmanagement.com\/blog\/wp-json\/wp\/v2\/media?parent=85"}],"wp:term":[{"taxonomy":"ufaq-category","embeddable":true,"href":"https:\/\/www.normsmanagement.com\/blog\/wp-json\/wp\/v2\/ufaq-category?post=85"},{"taxonomy":"ufaq-tag","embeddable":true,"href":"https:\/\/www.normsmanagement.com\/blog\/wp-json\/wp\/v2\/ufaq-tag?post=85"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}