What is the 401 , K , plan?

A 401(k) plan is a type of retirement savings plan offered by employers to their employees in the United States. Employees can contribute a portion of their pre-tax income to the plan, and often employers will match a percentage of these contributions up to a certain amount. The funds in the plan are invested to grow over time, and when the employee retires, they can begin withdrawing from the plan. There are rules and restrictions on how the money can be withdrawn, and there may be penalties for withdrawing funds before a certain age.

End of Service Gratuity, also known as gratuity pay or termination benefits, is a lump sum amount that an employer pays to an employee upon the termination of their employment contract. It is a form of reward for the employee's long-term service with the company.