Hello all, I have query reagting gratuity calculation in case of employee death at workplace.
How is gratuity to be paid till the retirement age (58 or 60) or till the number of completed years of service?
Thanks in advanced.
12th February 2019 From India, Mumbai
Gratuity is a one time lump sum terminal benefit computed on the basis of the number of years of service rendered by the employee in the same establishment as on the date of termination and the sum of the basic and dearness allowance last drawn.
It should be paid in lumpsum to the employee or his/her nominee within 30 days from the date of termination or the employee's death as the case be.
It is not a periodical payment like pension.
13th February 2019 From India, Salem
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