Question

What is the statutory basis for Gratuity payments in India?

a.

Companies Act, 1956

b.

Employees' Provident Fund and Miscellaneous Provisions Act, 1952

c.

Payments of Gratuity Act, 1972

d.

Income Tax Act, 1961

Posted under IC 89 Management Accounting

Answer: (c).Payments of Gratuity Act, 1972 Explanation:Gratuity is a statutory benefit governed by the Payments of Gratuity Act, 1972.

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