Which of the following is correct with respect to the Payment of Gratuity Act, of 1972?

1. It provisions the payment of extra 15 days' salary for every year of completed service to the employees who have worked for more than five years in establishments with 10 or more employees. 

2. Gratuity is paid as sum total amount altogether.

3. In the event of the death or disablement of the employee, there is no provision for the nominee or the heir of the employee for the gratuity benefit.

Choose the correct option: