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The Payment of Gratuity Act, 1972 is an Indian law that makes companies pay a one-time gratuity to retiring employees or employees who resigns after a minimum of 5 years of service. The law applies to all companies of at least 10 employees. [1] The gratuity is 15 days' wages for every year of employee service, or partial year over six months.
The Payment of Gratuity Act 1972 applies to establishments with 10 or more workers. Gratuity is payable to the employee if he or she resigns or retires. The Indian government mandates that this payment be at the rate of 15 days salary of the employee for each completed year of service subject to a maximum of ₹ 2000000. [24]
Newspapers (Price Control) Act: 1972: 15 Departmental Inquiries (Enforcement of Attendance of Witnesses and Production of Documents) Act: 1972: 18 Architects Act: 1972: 20 Taxation Laws (Extension to Jammu and Kashmir) Act: 1972: 25 National Service Act: 1972: 28 Delhi Lands (Restriction on Transfer) Act: 1972: 30 Payment of Gratuity Act: 1972: 39
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This is a category of articles concerning acts of Parliament (laws enacted by the Parliament of India in 1972). For more general discussion of Indian legal topics, see Category:Law of India and its other subcategories.
Make sure to leave a gratuity for baristas who take the time to create intricate latte art or take the time to strike up a friendly conversation with you. Always Tip Based on the Service