Indian Polity · Polity
Under the Payment of Gratuity Act, 1972 (as amended), consider the following statements: 1. Gratuity becomes payable after five years of continuous service, except in cases of death or disablement. 2. The maximum statutory ceiling for gratuity payment is ₹20 lakh. 3. Gratuity is calculated at the rate of 15 days' wages for every completed year of service, based on last drawn wages. 4. Gratuity is mandatorily payable only to employees earning below a prescribed wage ceiling. Which of the above statements are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2, and 3 only✓
- 21 and 3 only
- 32 and 4 only
- 41, 2, 3, and 4
Correct answer
1, 2, and 3 only
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