The Union Cabinet on Thursday decided to raise the ceiling of gratuity payable to employees in the private sector from Rs. 3.5 lakh to Rs. 10 lakh.
The proposal was cleared at the Cabinet meeting presided by Prime Minister Manmohan Singh. With this decision, private sector employees have been brought on a par with the Central government employees who were granted hike by the Sixth Pay commission. The Centre is likely to table a bill amending the gratuity law during the current Budget session of Parliament.
Labour and Employment Minister Mallikarjun Kharge held a number of consultations with stakeholders to arrive at a consensus on the issue.
Source : The Hindu.
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