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The payment of gratuity act, 1972
I have a doubt in Section 8 of The Payment of Gratuity Act, 1972. According to the section, if the employer fails to pay the amount within the prescribed time, which is 30 days from the termination date, he is liable to pay compound interest, but according to section 7, for delay, he was supposed to pay simple interest. Please enlighten on this.
Replies (1)
Interest u/s 7 is before making application by the aggreived party.
Interest u/s 8 is after making application by the aggreived party.
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