Vide "Payment of Gratuity (Amendment) Act, 2010" of the Govt of India and further notification by the Central Govt, the upper limit of Gratuity stands increased to Rs ten lakh w.e.f. 24.05.2010. It was earlier 3.5 lakh only.
The wordings of the related 2 gazette-notifications are reproduced, here-in-below:
The Gazette of India
EXTRAORDINARY
PART II-Section 1
PUBLISHED BY AUTHORITY
No. 20] NEW DELHI, TUESDAY, MAY 18, 2010 / VAISAKHA 28, 1932 (Saka)
MINISTRY OF LAW AND JUSTICE
(Legislative Department)
The following Act of Parliament received the assent of the President on the 17th May, 2010, and is hereby published for general information:-
THE PAYMENT OF GRATUITY (AMENDMENT) ACT, 2010
(No. 15 OF 2010)
[17th May, 2010.]
An Act further to amend the Payment of Gratuity Act, 1972.
Be it enacted by Parliament in the Sixty-first Year of the Republic of India as follows:-
1. (1) This Act may be called the Payment of Gratuity (Amendment) Act, 2010.
(2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
2. In section 4 of the Payment of Gratuity Act, 1972, in sub-section (3), for the words ''three lakhs and fifty thousand rupees'', the words ''ten lakh rupees'' shall be substituted.
V. K. BHASIN,
Secy. to the Govt. of India.
The Gazette of India
EXTRAORDINARY
PART II-Section 3--Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 1007] NEW DELHI, MONDAY, MAY 24, 2010/JYAISTHA 3, 1932
MINISTRY OF LABOUR AND EMPLOYMENT
NOTIFICATION
S.O. 1217(E).--In exercise of the powers conferred by sub-section (2) of Section 1 of The Payment of Gratuity (Amendment) Act, 2010 (15 of 2010), the Central Government hereby appoints the 24th day of May, 2010, as the date on which the said Act shall come into force.
[F.No. S-42012/1/2008-SS-II (Vol.II)]
S. K. SRIVASTAVA, Addl. Secy.
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