IR Executive Question:

Tell us what Is Gratuity?

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Answer:

Gratuity is a kind of benefit like the provident fund or pension. It is regarded as a legitimate claim which workmen can make and which in a proper case can give rise to an industrial dispute. Gratuity paid is intended to help the workmen after the retirement whether the retirement benefit is the result of the rules of the superannuation or of physical disability.
It is a reward for good, efficient and faithful service rendered for a fairly substantial period and it is not paid to the employee gratuitously or merely as a matter of bonus but for long and meritorious award.

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