What is gratuity?
Gratuity is a lumpsum that your employer pays you when you retire or resign from the organisation. You do not need to contribute any portion of your salary towards this amount.
Gratuity is paid out at your superannuation (if you retire at the age of 58), when you retire (at any other age) or resignation, and in the event of your death or being rendered disable because of an accident or illness. You need to have at least five full years of service with an employer to qualify for gratuity. This rule is relaxed in the last instance. In the event of your death, the gratuity will be paid to your nominee.
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