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How is premium calculated for Group Gratuity policy?

Gratuity is given by the employer to the employee in lieu of the services rendered during the period of employment. Here, we’ll get to learn the criteria for the premium calculation of the Group Gratuity policy.  The gratuity is usually paid at the time of retirement but can be paid earlier, provided below conditions are […]

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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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