The maximum amount of gratuity payable has now been enhanced to Rs 20 lakhs from existing limit of n...........

Industrial Relation and labour law Labour Laws -II

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The maximum amount of gratuity payable has now been enhanced to Rs. 20 lakhs from existing limit of :

Rs. 2.5 lakhs

Rs. 3.5 lakhs

Rs. 5 lakhs

Rs. 10 lakhs

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Explanation:

The maximum amount of gratuity has now been enhanced to Rs. 20 lakhs from10 lakhs. Gratuity is a benefit given by the employer to the employee. A recently approved amendment by Centre has increased the maximum limit of Gratuity. Under the Payment of Gratuity Act, 1972 the maximum gratuity payable is Rs. 20 lakhs. Previously the ceiling was Rs. 10 lakhs.