Gratuity And Pension
Legal definition for Indian law research
Definition
Gratuity and pension, Gratuity is a lump sum payment while pension is a periodic payment of a stated sum. They are both 'efficiency devices' and are considered necessary for an 'orderly and humane elimination' from industry of superannuated or disabled employees who but for such retiring benefits would continue in employment even though they function inefficiently, Burhanpur Tapti Mills Ltd. v. Durharpar Tapti Mills, AIR 1965 SC 839 (841).
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