Please provide the specified maximum limit of payment to employees under the Gratuity Act. I am told that it has been raised to a limit of Rs. 20 Lakhs. Please elaborate the details as well as the latest updates under the gratuity.
As per The Payment of Gratuity Act, the maximum limit (current ammendment) of Gratuity Payable is Rs.20 lacs . But the Employer is free to pay any amount above that as per his will and wish.
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