Regulation 16 of IBBI (Employees’ Service) Regulations, 2017 – Gratuity

The Insolvency and Bankruptcy Code, 2016 IBBI (Employees’ Service) Regulations, 2017 Chapter IV – Pay, Allowances and other Beneffits […]

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The Insolvency and Bankruptcy Code, 2016

IBBI (Employees’ Service) Regulations, 2017

Chapter IV – Pay, Allowances and other Beneffits

Regulation 16: Gratuity.

16. (1) An employee shall be eligible for gratuity on –

(a) retirement;

(b) death;

(c) disablement rendering him unfit for further service;

(d) resignation after completing five years of continuous service; or

(e) termination of service in any other way (except by way of punishment) after completion of five years of service.

(2) The amount of gratuity payable to an employee shall be such as may be decided by the Board.

 



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