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what is ex-gratia to employees

Question Posted / aleem.f


what is ex-gratia to employees..

Answer / sheshank dubey

A sum of money paid when there was no obligation or liability to pay it. For example, a lump sum payment over and above the pension benefits of a retiring employee. In insurance claims, it may take the form of payment for which the insurer did not appear to be liable. Ex gratia is Latin for "out of goodwilll." Also called ex gratia settlement.

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