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Payment of Gratuity Amendment Act 2012
Harish
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Posted 21-01-2013Reply

STATEMENT OF OBJECTS AND REASONS

The sub-section (2) of Section 4 of the Payment of Gratuity Act, 1972 provides

for payment of gratuity to the employees at the rate of fifteen days’ wages based on

the rate of wages last drawn for every completed year of service. In today’s world of

high prices and inflation, the gratuity of fifteen days wages for every completed year

is too meager. At such a small rate, a person cannot get enough amount for post

retirement settlement. It should therefore be atleast at the rate of thirty days’ salary

for every completed year of service.



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