Amendment status not verified — confirm the current text below against the official source.
(1) The contribution which shall be paid by the employer to the fund shall be eight per cent of the wages for the time being payable to each of the employees, and the employee's contribution shall be equal to the contribution payable by the employer in respect of him. (2) The employer shall, in addition to the contribution payable under sub-section (1), contribute to the fund as gratuity an amount equal to five per cent of the wages for the time being payable to each of the employees. Provided that where the amount of any contribution payable under this Act involves a fraction of a rupee, the scheme may provide for the rounding off of such fraction to the nearest rupee, half of a rupee or quarter of a rupee. 10A[(3) The Government shall contribute to the fund every year an amount not less than 7.5 percent of the employees' contribution to the fund by way of grant.]. Inserted by Act 3 of 1996 in K.G.Ext. No. 436 dt. 26/03/1996