valid as on 18/06/2024

2.13.16:Insolvency and Bankruptcy Board of India (Employees’ Service) Regulations, 2017

16. Gratuity.

(1) An employee shall be eligible for gratuity on –

(a) retirement;

(b) death;

(c) disablement rendering him unfit for further service;

(d) resignation after completing five years of continuous service; or

(e) termination of service in any other way (except by way of punishment) after completion of five years of service.

(2) The amount of gratuity payable to an employee shall be such as may be decided by the Board.

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