Gratuity is a financial benefit provided to employees as a reward for their long-term service to an organization. This blog explores the concept of gratuity, who is eligible to receive it, and the formula used to calculate it. We’ll also discuss the role of the Payment of Gratuity Act, 1972, which governs gratuity payments in India, and the rights of employees to receive gratuity upon retirement, resignation, or after completing a minimum number of years with an employer.
