Company Law/Payment of Gratuity Act: If an employee is covered by provisions of Payment of Gratuity Act, gratuity of such employee has to be calculated in accordance with provisions of Act and while so calculating, not only basic principle available in Section 4(2) as to how gratuity is to be calculated must be applied but also ceiling which is part of Section 4(3) must also apply and, thus, claim made by employee in excess of limit prescribed by section 4 would not be maintainable
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