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What-is-Gratuity-Meaning-Calculation-and-Formula-1

Gratuity meaning, in simple terms, is the amount your employer pays you for working with them for five years or more. This extra sum is considered an additional benefit and is seen as a reward for your loyalty and service. We will address the questions that we, as common men, often have in mind when joining any organisation, such as: What is gratuity, gratuity benefits, gratuity formula? A gratuity is more like a special monetary reward given to employees who’ve worked full-time at a company for over five years. This practice is ruled by The Payment of Gratuity Act, 1972. It’s a way for your employer to acknowledge your long-term commitment and support your financial well-being when you retire. In this blog, you can know about gratuity contribution by employer, gratuity in salary and eligibility criteria for gratuity.

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