Section 25, The Employment Act, 2023

(1) An employer shall, for the payment of terminal benefits, - (a) establish separate “end of service” or” gratuity benefits” bank account in line with the International Financial Reporting Standards and International Accounting Standards; and Registration of workplace. and training. Notification of job vacancies. returns and statistics. Employer to establish separate terminal benefits account. (b) submit to the Commissioner annually, a status report of the account. (2) The signatories to an end of service or gratuity benefits account established under subsection (1) shall, in the case of unionised workers, be the employer and accredited workers’ representatives. (3) Withdrawal from an end of service or gratuity benefits account shall not be effected, without prior notice in writing to the (4) An employer and in the case of corporations any officer of the employer responsible for such matters who fails to comply with the provisions of this section commits an offence and is liable on conviction to a fine of not less than 300 months of national minimum wage in respect of each offence or to imprisonment for a term not less than 3 years or to both such fine and imprisonment; Provided further that in the case of repeat offenders the Minister shall have the right, subject to resonable notice to close the establishment of such employers.