The maximum amount of gratuity fixed under the payment of gratuity act 1972 is ........

Industrial Relation and labour law Labour Laws -II

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The maximum amount of gratuity fixed under the payment of gratuity act, 1972 is :

Rs. 1 Lakh

Likely to be increases to 3.5 lakh

Rs. 5 Lakh

None of the above.

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Explanation:

The Payment of Gratuity Act provides for payment of gratuity at the rate of 15 days wage s for each completed year of service subject to a maximum of Rs. 20 lakh.

By: santosh

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Shahid Ali

The Government initiated the process for amendment to Payment of Gratuity Act, 1972 to increase the maximum limit of gratuity to such amount as may be notified by the Central Government from time to time. Now, the Government has issued the notification specifying the maximum limit to Rs. 20 Lakh.

sruthi

its 3.5 lakhs