GRATUITY FUND
Gratuity is an excellent offer to the retiring employees, providing to workers serving for a long time. Before the inclusion of Gratuity in Standing Order, 1972, Gratuity was optional for employers, but it has turned mandatory for employers since then. Now, Gratuity is a constitutional right of the employee eligible for it.
GRATUITY FUND LAW IN PAKISTAN
Gratuity is an excellent offer to the retiring employees, providing to workers serving for a long time. Before the inclusion of Gratuity in Standing Order, 1972, Gratuity was optional for employers, but it has turned mandatory for employers since then. Now, Gratuity is a constitutional right of the employee eligible for it.
Any organization that meets the following criteria obliges to grant at least of these retirement bonuses.
- In a commercial organization, if the institution employs 20 or more persons, either directly or indirectly, during any part of the last complete year (12 months).
- In the case of an industrial company, if the organization employs 49 or more workers, either directly or indirectly, during any part of the last complete year (12 months).
