Gratuity Scheme…Basics, Rules, Eligibility, Calculation, Precautions, Nomination, Income Tax

Gratuity is a retirement and loyalty reward scheme for the salaried employees.

Gratuity is a defined benefits scheme in which a lump sum amount will be paid to the employee, by the employer, when he leaves the organisation after serving for certain number of years.

It is more like a reward from the employer appreciating the employee’s service.

Gratuity is a part of employee’s salary and it is paid by the employer for the services offered by the employee.

All details regarding this scheme has been told in this video…