39 OF 1972 [21st August, 1972.] ANSWER: d. All of the above . Short title, extent, application and commencement. The Payment of Gratuity Act 1972 (39 of 1972) comes into force on 16-September-1972. This Act may be cited as the Payment of Gratuity Act⦠The first noticeable change under the Code is the addition of two extra clauses to the provision on payment of gratuity. A retrenched employee is also eligible for gratuity. Applicability. B. Parliament passes Payment of Gratuity (Amendment) Bill, 2017. Payment of Gratuity Act. Time when Gratuity becomes payable: â As per section 4(1) of payment of gratuity Act 1972, gratuity shall be payable to an employee on termination of his employment after he has rendered continuous service of five years or more. This Act provides a social security cause with it and has been enacted from the word âgratuitousâ. Eligibility: Any person employed on wages / salary. First is the Payment of Gratuity Act, 1972 which is a central Act (hereinafter referred as âthe Act of 1972â). Be it enacted by Parliament ⦠Application No. b) On his retirement or resignation, or . Applicable to all companies including shops, ⦠d. Employees Act. WORKMEN COMPENSATION ACT, 1923 . The Payment of Gratuity Act, 1972. On what grounds an employee will be disqualified from getting bonus? The Payment of Gratuity Act, 1972: Long Title: An Act to provide for a scheme for the payment of gratuity to employees engaged in factories, mines, oilfields, plantations, ports, railway companies, shops or other establishments and for matters connected therewith or incidental thereto. Income Tax Department > Tax Laws & Rules > Acts > Payment of Gratuity Act, 1972 Income Tax Department > All Acts > Payment of Gratuity Act, 1972 Choose Acts: Section No. View Answer. The Payment of Gratuity Act, 1972 Gratuity means a lump sum payment made by an employor as the retrial reward for his past service when his employment is terminated. Before the Controlling Authority under the Payment of Gratuity Act, 1972. (In the case of plantations and ports, it shall not extend to the state of Jammu and Kashmir).It came into effect from 16th September 1972.; Important points: As per the Gratuity Act, employer who employs ten or more than ten employees on any day of proceeding one year need to pay gratuity to his employees. a) On his superannuation, or. 03 Jul. Reply. An individual is eligible to receive the gratuity once he/she has completed five years of service with an employer. The gratuity is payable on superannuation or retirement as well as on resignation of the employee. MCQâs In Labour Laws With Answers Speak HR. Payment of Gratuity Act Current Affairs - 2020. 2 The Payment of Gratuity Act, 1972 1 THE PAYMENT OF GRATUITY ACT, 1972 Sec. Gratuity is a statutory payment to be made by an employer to an employee rendering five or more years of continuous service in an establishment. It is provided that in so far as it relates to plantations or ports, it shall not extend to the State of Jammu and Kashmir. PAYMENT OF BONUS ACT, 1965. Labour Laws Blogspot Com. Sec. ), retirement, resignation, death or disablement. In India, gratuity is a type of retirement benefit. No comments. 2. a. While Section-4 of the soon to be erstwhile Act provided for superannuation, retirement/resignation and death/disablement as conditions that triggered payment of gratuity, Section-53 of the Code has added two additional clauses. At the time of retirement, resignation or superannuation, an employee should have rendered continuous services of not less than 5 years. An Act to provide for a scheme for the payment of gratuity to employees engaged in ⦠It extends to the whole of India. 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