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The Payment of Gratuity Act, 1972 is an Indian law that makes companies pay a one-time gratuity to retiring employees or employees who resigns after a minimum of 5 years of service. The law applies to all companies of at least 10 employees. [1] The gratuity is 15 days' wages for every year of employee service, or partial year over six months.
The Payment of Gratuity Act 1972 applies to establishments with 10 or more workers. Gratuity is payable to the employee if he or she resigns or retires. The Indian government mandates that this payment be at the rate of 15 days salary of the employee for each completed year of service subject to a maximum of ₹ 2000000. [24]
This is a chronological and complete list of acts passed before 1861, by the Imperial Legislative Council between 1861 and 1947, the Constituent Assembly of India between 1947 and 1949, the Provisional Parliament between 1949 and 1952, and the Parliament of India since 1952. Apart from Finance Act, there are 890 Acts which are still in force as ...
2–3 July – 2024 India-Bangladesh floods: At least sixteen people are killed by floods and landslides in Assam and Arunachal Pradesh, while over 300,000 more are displaced. [102] [103] 5 July – A victory parade is held in Mumbai by the Indian cricket team following their victory in the 2024 ICC Men's T20 World Cup. [104] [105]
This is when India's laws became more attuned with British Common Law, which came from rulings in British legal cases, and is what Judges used to decide cases. [19] This meant that India had limited, on the way to becoming zero, usage of Hindu or Islamic Laws while the law of the colonizers became the predominant form of litigation.
The NVGs are an aspirational and comprehensive guideline to encourage responsible business behaviour in India. The NVGs, a set of 9 principles, [10] cover a broad array of social, economic, environmental and governance issues and developmental priorities. To actualise the principles a corresponding set of core elements have also been developed.
Labour in India refers to employment in the economy of India. In 2020, there were around 476.67 million workers in India, the second largest after China. [ 2 ] Out of which, agriculture industry consist of 41.19%, industry sector consist of 26.18% and service sector consist 32.33% of total labour force. [ 2 ]
The Indian state of Goa was separated from British India during the colonial rule in the erstwhile Portuguese Goa and Daman, retained a common family law known as the Goa civil code and thus was the only state in India with a uniform civil code prior to 2024. Following India's independence, Hindu code bills were introduced which largely ...