Dagmar Linnell

Films 2024 Gratuity Definition. It is a defined monetary benefit plan where no contributions are made by the employee. Gratuity is a vital financial benefit provided to employees in india, governed by the payment of gratuity act, 1972.

Gratuity is a lump sum amount that an employer pays to his or her employees as a form of gratitude for the services rendered by the latter. The employer pays this to employee if he has worked for at least 5 years.