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Statutory requirements for payment of gratuity

One of the monetary incentives for staying in an organization long enough is the expectation of gratuity payment. This is a lumpsum amount, a gratuity payment for services rendered over a period of time. Requirements for gratuity payment There are certain statutory requirements that an organization has to adhere to for the payment of gratuity […]

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How Does the Group Gratuity Scheme Benefit Your Institution?

Any organization which has been operating with a minimum number of 10 employees since the past financial year becomes liable to pay gratuity to those who have completed five years of continuous service; upon retirement or leaving the job. A gratuity is a mandatory lump sum amount to be given by the employer to workers […]

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