UBS

Ex Gratia payment

What is Ex Gratia payment?

Ex Gratia’s actual meaning is- “by virtue of grace” which means ‘From Favor’ in Latin. It refers to the amount that is paid in favor of the employer, organization, government, or insurer. This is done at its own discretion and it didn’t have any obligation or liability to pay it. These aren’t common and are subject to taxes.

The govt. makes the payment to a particular person to compensate for the damages or losses faced. The individual or the corporate or government paying this money to the victim will not expect anything in return as this is compensation for the damages that have been faced. This is termed as one of the best gestures of goodwill by the company or government, whoever is paying the quantity, towards the victims to assist in their critical times.

Also, See: Deferred Compensation

Get Started

Solving Real Business Challenges with a Robust & Impeccable System

Any Query? Reach Out To Us.

We are here to help you find a solution that suits your business need.

Watch a Demo

Get a visual representation of how we work!

Schedule Demo
Get in Touch

Our sales expert is just one call away to meet your needs.

Get In Touch
Start Chat

Have a question?
Chat with Us

Start Chat