Commutation of pension means converting a part of the monthly pension into a one-time lump sum payment at retirement. A government employee can commute a portion of pension as per the rules. The lump sum is calculated using a commutation ...
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Gratuity is a lump-sum retirement benefit paid to an employee for long service with the organisation. In government service it is paid on retirement, resignation after the qualifying service period, or to the family in case of death in service. ...