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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