The Indian Government introduced the Payment of Gratuity Act in 1972. Generally gratuity accrues at a rate of 15 days last drawn salary per year of service for each employee or as defined by the trust deeds. Gratuity is payable immediately on cessation of employment, provided the employee has continuous service of at least five years. The five year provision does not apply on death or disablement of the employee. Gratuity, by nature is a medium to long-term liability of the employer and accordingly an appropriate medium to long-term investment strategy should be adopted by the trustees to match assets and liabilities.

We, Reliance Life Insurance Company Limited, provide you with the gratuity fund management services to meet your gratuity liabilities towards your employees as described in the trust deed, coupled with future service gratuity.

Reliance Traditional Group Gratuity Plan

Reliance Traditional Group Gratuity Plan is a yearly renewable, traditional group gratuity scheme. It enables employers / trustees to outsource the management of their employees’ gratuity funds and the related administration to Reliance Life Insurance Company Ltd.

Key Features

	The scheme will assist the corporate to manage their gratuity liabilities.
	Option to enhance protection through riders
	Tax benefits as applicable

	Disclaimer
	For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale
	UIN for Reliance Traditional Group Gratuity Plan:121N047V01