Civil Services UPSC EPFO (EO/AO) Mock Test 2023 General Knowledge Economy National Income Accounting
Which of the following is NOT correct in relation to Gratuity Benefit in India?
1
Gratuity = Last Drawn Salary × 15/26 × Years of Service
2
The employer cannot reject the payment of gratuity to an employee even if the individual has been terminated from the job due to any misconduct
3
The Gratuity is provided as a lump sum payout by a company
4
The Years of Service are rounded up or down to the nearest full year.