Gratuity Scheme of the Life Insurance Corporation of India.

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....of India was treated as similar to the death-cum-retirement gratuity Scheme under the Revised Pension Rules of the Central Government. 2. The Board had occasion to review the Gratuity Schemes of some of the Nationalised Banks and the Life Insurance Corporation of India to see whether they are similar to the Gratuity Scheme under the Revised Pension Rules of the Central Government. The Ministry of....

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....as in the case of the Central Government in the sense that the qualifying service may be longer than 5 years or the rate of calculation of gratuity slightly different from 9/20th of the emoluments as in the case of Government service. The Board are advised that these differences are not material and will not make these schemes dis-similar to the Government's scheme. 5. It is also observed that ma....