The company has the policy of retirement at the age of 60 years and all provisions in books are being made based on this policy and funds with LIC of India are also being placed accordingly. What would be the gratuity amount payable to an employee whose services has been extended for 2 years beyond 60 years although company is providing provisions and funds are being placed with LIC of India based on 60 years as per company's retirement policy only.During his extended period gratuity has been revised from 10 lac to 20 lac.