Which of the following statement/s is/are correct regarding payment of Gratuity Act 1972?        
I.            It is applicable where at least  20 or more workers are employed, or were employed on any day of preceding twelve months.      
II.            The employer shall arrange to pay the amount of gratuity under 30 days.    
III.      The amount of gratuity payable to an employee shall not exceed three lakhs and fifty thousand rupees.