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Question
What is payable at the rate of 15 days last drawn pay for every completed years of service
Options
Pension
Group Insurance
Gratuity
Provident Fund
MCQ
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Solution
Gratuity
Explanation:
Under the Payment of Gratuity Act, gratuity is a statutory benefit calculated at the rate of 15 days’ salary for every completed year of service upon termination or retirement.
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