- Friday, April 26, 2024
By: Eastern Eye Staff
The Union Cabinet chaired by Prime Minister Narendra Modi on Tuesday approved the introduction of the Payment of Gratuity (Amendment) Bill, 2017 in the Parliament. The Amendment will increase the maximum limit of gratuity of employees, in the private sector and in public sector undertakings/ autonomous organizations under the government who are not covered under CCS (Pension) Rules, at par with Central Government employees. The Payment of Gratuity Act, 1972 applies to establishments employing 10 or more people. The main purpose for enacting this Act is to provide social security to workmen after retirement, whether retirement is a result of the rules of superannuation, or…
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