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Gratuity limit hike
June 3 , 2024
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- The Central government increased the dearness allowance (DA) and dearness relief (DR) by 4% in March 2024.
- It has resulted in a substantial revision in other allowances, including retirement gratuity.
- The maximum limit for Retirement Gratuity and Death Gratuity is increased by 25%, from Rs 20 lakh to Rs 25 lakh, effective January 1, 2024.
- Gratuity is a defined benefit plan given by the employer to the employee for rendering services continuously for five years or more.
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