Section 93 in Securities and Exchange Board of India (Employees' Service) Regulations, 2001
93. Gratuity.
(1)Every employee, shall be eligible for gratuity on :-(a)retirement ;(b)death ;(c)disablement rendering him unfit for further service as certified by Board's Medical Officer ;(d)resignation after completing five years of continuous service ; or(e)termination of service in any other way (except by way of punishment) after completion of five years of service.(2)[ The amount of gratuity payable shall be determined by the Board from time to time.Provided that where an employee has completed more than 30 years of service in the Board, he shall be eligible by way of gratuity for an additional amount at the rate of one half of a month's pay for each completed year of service beyond 30 years.Provided further that the gratuity amount payable to an employee shall not be less than the amount payable under the payment of Gratuity Act, 1972.] [Substituted by SEBI (Employees' Service) (Amendment) Regulations, 2010, w.r.e.f. 28-3- 2003.](3)[ Without prejudice to the sub-regulations (1) and (2), the Board may create a gratuity trust.] [Substituted SEBI (Employees' Service) (Amendment) Regulations, 2010, w.r.e.f. 28-3-2003.]
