alleryStart learning →In India, gratuity is classed as what kind of benefit?
AShort-term benefit
BRetirement benefit
CShare-based benefit
DMedical benefit
Answer & Solution
Correct answer: B. Retirement benefit
Gratuity is a payment made to help an employee financially after long service and retirement, so it is a retirement benefit.
Keep practising Employee Benefits
Browse all Employee Benefits questions for CA Inter, or explore more Accounting topics.
Related questions
Employee benefits mainly aim to increase what for staff?Which US plans let employees choose from a menu of benefits?Employees tend to see mandated benefits as creating what?Which body coined the term fringe benefits during World War II?What is exchanging cash wages for another benefit called?In which year was India's fringe benefits tax abolished?The IASB defines employee benefits as consideration for what?Who prepared the 1943 report that shaped India's health insurance scheme?