https://www.taxtmi.com/caselaws?id=402302 Delayed payment of gratuity attracts simple interest under the statutory scheme when gratuity is not released within the prescribed period after retirement. The text states that once default in timely payment is established, the employee becomes entitled to interest for the period of delay, regardless of the reasons advanced for late disbursement. It further notes that the interest rate applied was 7% per annum on the delayed gratuity amount, limited to the period of default. en-us Mon, 07 Dec 2020 00:00:00 +0530 Mon, 28 Dec 2020 21:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402302 Delayed payment of gratuity attracts simple interest under the statutory scheme when gratuity is not released within the prescribed period after retirement. The text states that once default in timely payment is established, the employee becomes entitled to interest for the period of delay, regardless of the reasons advanced for late disbursement. It further notes that the interest rate applied was 7% per annum on the delayed gratuity amount, limited to the period of default. Case-Laws Indian Laws Mon, 07 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402302