Life Insurance

Group Gratuity

Highlights

• Gratuity is a compulsory benefit to be provided to employees as per the Gratuity Act, 1972.


• It is a lump sum amount paid out to employees, once they are no longer a part of the company.


• An employee is eligible for payment of gratuity only if he or she fulfills the conditions specified under the Gratuity Act.

Features

• As an employer, you can choose to invest a certain amount of money in order to meet your future gratuity liability.


• The amount set aside by you is invested in a range of equity and debt funds to provide returns over a long term.


• The kitty created under this plan is then used to make claim payments for gratuity when employees exit.

Note : Policy details offered are indicative, not exhaustive. Please contact your nearest Arunaya office for further details.