InvestorQ : Who is eligible for getting gratuity?
Manish Mehta made post

Who is eligible for getting gratuity?

Swati Naik answered.
3 years ago

Gratuity is the part of the salary that an employer pays to an employee, at the time of the employee leaving his/her job, for the services that the employee has put in the company. It is like a reward for the employee’s loyalty.

However, not every employee gets gratuity. It is given only to employees who complete five or more than five years with the company.

Gratuity is a monetary reward paid by the company in recognition of the employee’s years of service in the company and is mandated by the Indian law, specifically the Payment of Gratuity Act, 1972.