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Gratuity ceiling for employees to be doubled to Rs 20 lakhs

Gratuity ceiling for employees to be doubled to Rs 20 lakhs

Friday, February 24, 2017, 4:22 PM

Private-sector employees, will soon be able to withdraw up to Rs 20 lakhs in gratuity, after the Centre decided to amend a law and double the amount. According to current rules, even if a worker accumulates more than Rs 10 lakh as gratuity contribution, he or she is allowed to withdraw only Rs 10 lakh. Gratuity is withdrawn upon termination of employment or retirement.
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