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Meaning & Definition

Gratuity

Gratuity is given by the employer to his/her employee for the services rendered by him during the period of employment. It is usually paid at the time of retirement but can be paid earlier, provided certain conditions are met.

A person is eligible to receive gratuity only if he has completed a minimum of five years of service with an organisation. However, it can be paid before the completion of five years in case of the death of an employee or if he has become disabled due to an accident or disease

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