An Act further to amend the Payment of Gratuity Act, 1972. BE it enacted by Parliament in the Forty-ninth Year of the Republic of India as follows:-
1.Short title and commencement.- (1) This Act may be called the Payment of Gratuity (Amendment) Act, 1998.
(2) It shall be deemed to have come into force on the 24th day of September, 1997.
2.Amendment of section 4 of Act 39 of 1972.- In section 4 of the Payment of Gratuity Act, 1972 (hereinafter referred to as the principal Act), in sub-section (3), for the words one lakh, the words three lakhs and fifty thousand shall bee substituted.
3.Repeal and saving.- (1) The Payment of Gratuity (Amendment) Ordinance, 1998 (Ord.10 of 1998) is hereby repealed.
(2) Notwithstanding such repeal, anything done or any action taken under the principal Act as amended by the said Ordinance shall be deemed to have been done or taken under the principal Act as amended by this Act.
