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Minimum no of years of service required to claim gratuity
10-Jan-2023 (In Labour & Service Law)
What is the minimum no of years of continuous service required to qualify for gratuity. Some say 5 years and some say 4.8 yrs. Could you give me details on the same.
A Gratuity is a lump sum payment given by the employer. It is a mark of recognition to the employee’s service. An employee gets gratuity at the time of retirement or leaving the job. It is a ‘defined benefit’ plan.
Every employer is bound to give gratuity amount to its employees if it employs more than 10 people. The gratuity is given after leaving the job of you have completed continuous service of 5 years. Gratuity is a non taxable amount provided employer gives gratuity according to the formula.
Lest us understand the gratuity rules in detail.
5 Years Continuous Service
To be eligible for gratuity, you must complete 5 years continuous service. 6 months of a year can be counted as one year. If you have completed 4 years and 7 months in service, you will get the gratuity.
Every employer is bound to give gratuity amount to its employees if it employs more than 10 people. The gratuity is given after leaving the job of you have completed continuous service of 5 years. Gratuity is a non taxable amount provided employer gives gratuity according to the formula.
Lest us understand the gratuity rules in detail.
5 Years Continuous Service
To be eligible for gratuity, you must complete 5 years continuous service. 6 months of a year can be counted as one year. If you have completed 4 years and 7 months in service, you will get the gratuity.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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