Group Gratuity Account

Ask the Community Statutory Compliance
1

Can a group gratuity account be opened only in LIC and also should we cumplusory take
up the group life insurance. Are there any other instutions were a group gratuity trust can be opened

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2

Opening it with LIC is not mandatory, but group life insurance is compulsory. We have our trust account with Kotak.

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3

Thank you Deepti for quick revert.

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