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Which statement best explains Gratuity?

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Question ID #27173 UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC 2026 Full-Length Mock Test 7 Medium

Which statement best explains Gratuity?

Correct Answer: B. Lump-sum terminal benefit payable subject to statutory eligibility
Gratuity: Lump-sum terminal benefit payable subject to statutory eligibility

Question: Which statement best explains Gratuity?

A. Defined-contribution retirement savings system regulated under the pension framework

B. Lump-sum terminal benefit payable subject to statutory eligibility

C. Code consolidating multiple central social-security laws and recognizing categories including gig and platform workers

D. Non-contributory support generally financed from public revenues for eligible beneficiaries

Correct Answer: B. Lump-sum terminal benefit payable subject to statutory eligibilityGratuity: Lump-sum terminal benefit payable subject to statutory eligibility

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Which statement best explains Gratuity? - MCQ Explanation

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Correct answer: B. Lump-sum terminal benefit payable subject to statutory eligibility