Question

WHAT IS GRATUITY IN SIMPLE WORDS...​

Answer 1

Answer:

Gratuity is a monetary benefit given by the employer to his employee at the time of retirement. It is a defined benefit plan where no contributions are made by the employee. Prior to 1972, there was no law where it was mandatory for the employer to pay employees gratuity at the time of retirement.

Answer 2

Answer:

Gratuity is a monetary benefit given by the employer to his employee at the time of retirement.

Explanation:

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