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State of Punjab - Section
Section 11 in Punjab Privately Managed Recognised Aided Schools Retirement Benefits Scheme, 1992
11. Retirement Gratuity.
| Length of service | Rate of Gratuity |
| (i) Less than one year | Two times of pay; |
| (ii) One year or more but less than five years | Six times of pay; |
| (iii) Five years or more but less than twenty years | Twelve times of pay; and |
| (iv) Twenty years and above | Half pay for every completed six monthly period of qualifyingservice subject to a maximum of thirty-three times pay : |