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Retirement is a significant milestone in every person’s life, marking the end of their professional career and the beginning of a new chapter. For employees in Odisha, the state government provides various retirement benefits to ensure financial security and stability after they stop working.

One of the key benefits that employees in Odisha receive upon retirement is gratuity. Gratuity is a lump sum amount paid by the employer as a token of appreciation for the employee’s years of service. In Odisha, employees are entitled to receive gratuity if they have completed at least five years of continuous service with the same employer. The gratuity amount is calculated based on the employee’s last drawn salary and the number of years of service.

In addition to gratuity, employees in Odisha are also eligible for pension after retirement. Pension is a monthly payment made to retired employees to ensure they have a steady source of income post-retirement. The amount of pension is determined based on the employee’s years of service and their last drawn salary. The pension amount is usually a percentage of the employee’s last drawn salary, with a minimum prescribed by the government.

Apart from pension and gratuity, employees in Odisha are also entitled to death gratuity in case of the employee’s death before retirement. Death gratuity is paid to the employee’s nominees or legal heirs and is calculated based on the employee’s length of service and last drawn salary. The purpose of death gratuity is to provide financial assistance to the employee’s family in the event of the employee’s untimely demise.

Overall, the retirement benefits provided to employees in Odisha play a crucial role in ensuring their financial well-being and security post-retirement. These benefits serve as a reward for the employee’s years of dedicated service and help them transition smoothly into their retired life. By providing these benefits, the state government of Odisha aims to create a supportive and caring environment for its employees, even after they have left the workforce.