Under the Payment of Gratuity Act, 1972 the maximum gratuity payable is:
(A) Rs. 10 lakhs
(B) Rs. 8 lakhs
(C) Rs. 5 lakhs
(D) Rs. 3.5 lakhs
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Answer:
A. 10 lakhs
Explanation:
The present upper ceiling on gratuity amount under the Act is Rs. 10 Lakh.Accordingly, the Government initiated the process for amendment to Payment of Gratuity Act, 1972 to increase the maximum limit of gratuity to such amount as may be notified by the Central Government from time to time.
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