IAI SA4 Practice Questions - IAI Subject SA4 Pensions And Other Benefits Specialist Advanced Exam

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The maximum statutory gratuity payable under the Payment of Gratuity Act, 1972 was raised by notification in 2018. What is the current ceiling on tax-exempt/statutory gratuity that an actuary typically applies when valuing a gratuity liability for a private-sector employer?

Rs 20 lakh Rs 10 lakh Rs 25 lakh No ceiling applies

Correct Answer:

Rs 20 lakh

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