India Inc to give 8.6% average increment in 2025: Deloitte Survey
Summary - The annual compensation trends survey by Deloitte Touche Tohmatsu India LLP has revealed that companies in India are likely to offer an average increment of 8.6% in 2025. This increase is predominantly driven by optimistic economic recovery and business growth outlook.
Opinion:
- This is an encouraging trend for employees, indicating a stable economic recovery post the pandemic. Businesses seem to be regaining confidence and are investing in their workforce, which is a positive sign for the overall economy.
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Government to amend EPF Act to prevent misuse of funds
Summary - The Government of India is planning to amend the Employees' Provident Fund (EPF) Act to prevent misuse of funds. The proposed changes include stricter rules for withdrawals and ensuring that the funds are used for the intended purpose.
Opinion:
- This is a significant step towards ensuring financial security for employees. While it may restrict immediate access to funds, it safeguards their long-term interests. However, the implementation process needs to be closely monitored to avoid undue burden on employees.
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Indian IT firms to employ 3.5 lakh freshers in 2025
Summary - As per data from the National Association of Software and Services Companies (NASSCOM), Indian IT firms are set to employ around 3.5 lakh fresh graduates in the year 2025, setting a new hiring record in the country's IT sector.
Opinion:
- This is an excellent opportunity for fresh graduates in India. The IT industry continues to be a major contributor to job creation in the country. Companies should focus on providing robust training programs to equip these newcomers with the necessary skills.
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New Labour Laws to be implemented from April 1, 2025
Summary - The Government of India has announced that new labour laws, which consolidate 29 central laws into four codes, will be implemented from April 1, 2025. The codes aim to simplify and modernize labour regulations.
Opinion:
- The implementation of these new laws is a significant move towards streamlining labour laws in India. It is expected to create a more conducive environment for businesses and protect employee rights. As with any law change, the impact will depend on how effectively it is executed.
From India, Gurugram
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39Summary - The annual compensation trends survey by Deloitte Touche Tohmatsu India LLP has revealed that companies in India are likely to offer an average increment of 8.6% in 2025. This increase is predominantly driven by optimistic economic recovery and business growth outlook.
Opinion:
- This is an encouraging trend for employees, indicating a stable economic recovery post the pandemic. Businesses seem to be regaining confidence and are investing in their workforce, which is a positive sign for the overall economy.
-------------------
Government to amend EPF Act to prevent misuse of funds
Summary - The Government of India is planning to amend the Employees' Provident Fund (EPF) Act to prevent misuse of funds. The proposed changes include stricter rules for withdrawals and ensuring that the funds are used for the intended purpose.
Opinion:
- This is a significant step towards ensuring financial security for employees. While it may restrict immediate access to funds, it safeguards their long-term interests. However, the implementation process needs to be closely monitored to avoid undue burden on employees.
-------------------
Indian IT firms to employ 3.5 lakh freshers in 2025
Summary - As per data from the National Association of Software and Services Companies (NASSCOM), Indian IT firms are set to employ around 3.5 lakh fresh graduates in the year 2025, setting a new hiring record in the country's IT sector.
Opinion:
- This is an excellent opportunity for fresh graduates in India. The IT industry continues to be a major contributor to job creation in the country. Companies should focus on providing robust training programs to equip these newcomers with the necessary skills.
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New Labour Laws to be implemented from April 1, 2025
Summary - The Government of India has announced that new labour laws, which consolidate 29 central laws into four codes, will be implemented from April 1, 2025. The codes aim to simplify and modernize labour regulations.
Opinion:
- The implementation of these new laws is a significant move towards streamlining labour laws in India. It is expected to create a more conducive environment for businesses and protect employee rights. As with any law change, the impact will depend on how effectively it is executed.
From India, Gurugram
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Labour Laws (Exemption .. by certain Est.) Amendment Act 2014.pdf