Advertisements
Advertisements
Question
A voluntary payment made by an employer to an employee who retires after long and dedicated services is ______.
Options
Pension
Group insurance
Gratuity
Provident fund
Advertisements
Solution
A voluntary payment made by an employer to an employee who retires after long and dedicated services is Gratuity.
Explanation:
A gratuity is a payment provided by an employer to an employee upon retirement to show appreciation for their long and loyal service to the company.
APPEARS IN
RELATED QUESTIONS
The National Pension Scheme seeks to provide old-age security to the citizens.
NPS stands for ______.
Social security implies measures to protect workers against distress caused by ______.
Why is 'Gratuity' given by an employer to an employee?
Mention any two ways by which employees get social security.
Explain any two social security measures adopted in India.
Explain the benefits provided by employers to employees under the Employees State Insurance Act.
Explain the benefits provided by employers to employees under the Maternity Benefit Act.
| Mr. Khanna, a manager in a public limited company, is turning sixty years of age and is about to retire from the organisation after a long and dedicated service. |
In this context answer the following:
- Name any two Acts pertaining to Mr. Khanna's retirement.
- Discuss the reasons why these two Acts need to be effected in organisations.
State any three features of Group Insurance.
