Mohan retired from Y & Company Ltd. on 31.8.2020 after rendering services for 31 years and 7 months. He was paid ₹ 11 lakh as gratuity under the Payment of Gratuity Act, 1972. His last drawn salary was ₹ 52,000. How much of the amount of gratuity would be exempt?

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Question:Mohan retired from Y & Company Ltd. on 31.8.2020 after rendering services for 31 years and 7 months. He was paid ₹ 11 lakh as gratuity under the Payment of Gratuity Act, 1972. His last drawn salary was ₹ 52,000. How much of the amount of gratuity would be exempt?

1. ₹ 10,00,000

2. ₹ 20,00,000

3.₹ 9,30,000

4. ₹ 9,60,000

Posted by R4R Team
  1. Mohan retired from Y & Company Ltd. on 31.8.2020 after rendering services for 31 years and 7 months. He was paid ₹ 11 lakh as gratuity under the Payment of Gratuity Act, 1972. His last drawn salary was ₹ 52,000. How much of the amount of gratuity would be exempt?
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