Government Raises Retirement & Death Gratuity Limits To Rs 25 Lakh

Government Raises Retirement & Death Gratuity Limits To Rs 25 Lakh

Daily Current Affairs / Government Raises Retirement & Death Gratuity Limits To Rs 25 Lakh

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Category : Business and economics Published on: June 03 2024

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The Indian government has raised the maximum limit of retirement and death gratuity from Rs 20 lakh to Rs 25 lakh for Central government employees, effective January 1, 2024.
This enhancement aims to improve the benefits for these employees.
EPFO Suspends Gratuity Hike: Despite expectations, the Employees’ Provident Fund Organisation (EPFO) has put on hold a previously announced 25% increase in retirement and death gratuity. This decision was influenced by considerations related to the recent hike in Dearness Allowance (DA).
Following the 7th Pay Commission rules, the recent increase in DA to 50% for Central government employees automatically triggers revisions in gratuity limits and other allowances. However, the EPFO’s suspension of the gratuity hike indicates that there are no immediate government plans to implement these revisions.

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