Gratuity in India: Ever wondered if you are leaving money on the table when leaving your job? Gratuity could be your hidden reward for years of service, but do you really know how it works, who qualifies, and what the key rules are? Get in the story to uncover everything about eligibility, calculation, and the little-known rules that could help you get what’s rightfully yours. Gratuity is a lump sum payment made by an employer to an employee as a token of appreciation for services rendered. Learn about the eligibility criteria, calculation formula, tax rules and nomination process for gratuity in India. Meaning of Gratuity in Salary Gratuity refers to the amount that an employer is required to pay his employee, in return for services offered by him to the organization. A Gratuity is a financial component that is offered by an employer to his/her employee in recognition of his/her service tenure rendered to an organisation. However, the gratuity amount is given only to those employees who have served a minimum tenure of five years in an organization, i.e., they are employed for more than ...
