TN Retirement Gratuity – Retirement and Death Gratuity from 1.1.2016
GRATUITY
RETIREMENT / DEATH GRATUITY : The rates for payment of death gratuity shall be revised with effect from 1-1-2016 as follows:-
The maximum limit of Retirement Gratuity and Death Gratuity shall be enhanced from the existing Rs.10 lakh to Rs.20 lakh with effect from 1-1-2016. The ceiling on gratuity shall increase by 25% of Rs.20 lakh, i.e. Rs.5 lakh each time the rate of dearness allowance crosses a multiple of 50 percentage points.
Retirement Gratuity for employees who have retired between 1-1-2016 and 30-09-2017 and Death Gratuity in respect of employees who have died between 1-1-2016 and 30-09-2017 shall also be reworked in accordance to clauses (1) and (2). In such cases, pensioners / family pensioners shall be entitled to payment of differential amount between the gratuity thus worked out and that has been paid earlier.
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