THE PAYMENT OF GRATUITY (AMENDMENT) BILL, 2012
The sub-section (2) of Section 4 of the Payment of Gratuity Act, 1972 provides for payment of gratuity to the employees at the rate of fifteen days’ wages based on the rate of wages last drawn for every completed year of service.
In today’s world of high prices and inflation, the gratuity of fifteen days wages for every completed year
is too meager. At such a small rate, a person cannot get enough amount for post retirement settlement.
It should therefore be atleast at the rate of thirty days’ salary for every completed year of service.
Attached File : 112266 1135791 payment of gratuity amendment act 2012.pdf downloaded: 1563 times
CAclubindia
