24 July 2010
Gratuity is payable to an employee on the termination of his employment after his continuous service of not less than 5 years (not applicable in case of death or disablement).
In the case of death of the employee, gratuity payable to him shall be paid to his nominee or, if no nomination has been made, to his heirs, and where any such nominees or heirs is a minor, the share of such minor, shall be deposited with the controlling authority who shall invest the same for the benefit of such minor in such bank or other financial institution, as may be prescribed, until such minor attains majority.
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