50% limit under Labour Code: India Inc wants cap on allowances relaxed (Economic Times, 18th May 2021)
Industry is keen that the cap be relaxed to 60% from 50% and gratuity norms, which mandate pay outs to be calculated for the past years on the basis of last drawn wages on last working day, be deferred to offset the immediate financial impact at a time when the Covid-19 pandemic had dented revenues.
India Inc has asked the government to relax the cap on the allowance component of wages from the proposed 50% under the Labour Code, saying that it would financially hit companies. The industry associations have also reached out to top industrial states seeking relaxation even from the state governments in the above provisions for establishments under their domain. Industry is keen that the cap be relaxed to 60% from 50%.......
Source: Economic Times, 18th May 2021
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59Industry is keen that the cap be relaxed to 60% from 50% and gratuity norms, which mandate pay outs to be calculated for the past years on the basis of last drawn wages on last working day, be deferred to offset the immediate financial impact at a time when the Covid-19 pandemic had dented revenues.
India Inc has asked the government to relax the cap on the allowance component of wages from the proposed 50% under the Labour Code, saying that it would financially hit companies. The industry associations have also reached out to top industrial states seeking relaxation even from the state governments in the above provisions for establishments under their domain. Industry is keen that the cap be relaxed to 60% from 50%.......
Source: Economic Times, 18th May 2021
EMKAY CONSULTANCY SERVICES (ESTT 1985)
LABOUR LAW CONSULTANT
PF, ESIC, PT, MLWF, Contract Labour Act, Bonus, Gratuity, Maternity Act, Shop License, Registration and Licensing und Contract Labour Act, Minimum Wages, Payroll, Sexual Harassment of Women at Workplace, Udyog Aadhaar, LIN Generation, Labour Law Compliance and Vendor Audit
202, Shreeji Villa, LoharAli, Station Road,Opp. Karnavat Classes &Near Laxmi book depot, Thane (West) – 400 601.
Mr. Raychand J. : 8779875109 / 9324678950
www.emkayconsultancy.in
Like us on Facebook - https://lnkd.in/e6Gxn_d
From India, Thana
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Haryana-Extensi on Of Time Limit To Deposit Labour Welfare Fund In The State Of Haryana (1).pdf