Dear Seniors. I would like to understand if the gratuity can be transferred in case a certain business is within an organisation is acquired by a different company to form a new company?
From India, New Delhi
It is to be specifically mentioned so in the acquisition deed between the buyer and seller. Otherwise, the affected employees are entitled to retrenchment compensation as well as gratuity from the seller. Please refer to sec.25-FF of the ID Act,1947.
From India, Salem