Question

_________________ is a lump sum payment made by the employer as a mark of recognition of the service rendered by the employee when he or she retires or leaves service

A. Provident fund
B. Insurance
C. Gratuity
D. Bonus

Answer 1

Gratuity is a lump sum payment made by the employer to the employee as a retirement benefit.

Step-by-step explanation:

Gratuity is a lump sum payment made by the employer as a mark of recognition of the service rendered by the employee when he or she retires or leaves service. It is a form of retirement benefit provided by the employer to the employee.