Retirement Age Change to 60: Is Gratuity Payable for Extended Service?

Our company has changed the retirement age from 58 years to 60 years. Will gratuity be payable for service up to 60 years?

Yes. The main condition is 5 years of continuous service and not the age of retirement or exit.

Hi
It is mandatory to pay gratuity till sixty years. An employee who completes five years continuous service is entitled for gratuity. In you case since the retirement age is changed to sixty years an employee attaining the age of sixty years is eligible for gratuity till his superannuation.
Regards
P.S.Lakshmanan
S. G. Management Services
(PAN INDIA Consultant – Labour Law Compliance,
PF, ESI, P Tax, Benefit Management &
POSH COMPLIANCE) - KOLKATA