Mmo 2024 Gratuity Act.  — gratuity is a lump sum amount paid by an employer to its employee when she leaves the company after completing a minimum of five years. Gratuity is paid as a sign of gratitude.

 — every company, public or private, having 10 or more employees is mandated to pay gratuity to its employees.  — the increase raises the maximum limit of retirement gratuity and death gratuity from rs 20.00 lakh to rs 25.00 lakh, effective from january 1, 2024.