Question
Which of the following statement is/are correct about
“the Payment of Gratuity Act? I.For the computation of the period of service, the maximum number of years that can be taken for calculating gratuity is 33 years. II.Under the Payment of Gratuity Act, no discrimination has been made, i.e. no minimum salary amount is required to be eligible for gratuity. III.The maximum amount of gratuity that an employee can receive from his employer is Rs 20 lakh.Solution
For the computation of the period of service, the maximum number of years that can be taken for calculating gratuity is 33 years. •Under the Payment of Gratuity Act, no discrimination has been made, i.e. no minimum salary amount is required to be eligible for gratuity. •the maximum amount of gratuity that an employee can receive from his employer is Rs 20 lakh.
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