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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 ] The Payment of Bonus Act 1965 , which applies only to enterprises with over 20 people, requires bonuses are paid out of profits based on productivity.
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The Commission had suggested that dearness allowance should be converted into dearness pay every time the cost of living rises by 50% over the base level. [ 3 ] The 6th Central Pay Commission recommended revision of base year of the Consumer Price Index (CPI) as frequently as feasible.It also changed base year for DA calculation to 2001 (base ...
The Minimum Wages Act 1948 is an act of parliament concerning Indian labour law that sets the minimum wages that must be paid to skilled and unskilled workers.. The Indian Constitution has defined a 'living wage' that is the level of income for a worker which will ensure a basic standard of living including good health, dignity, comfort, education and provide for any contingency.
The Maharashtra Legislative Council or Maharashtra Vidhan Parishad is the upper house of the bicameral legislature of Maharashtra state in western India.
The examples are not all inclusive. The term "income" is not defined in the statute or regulations. An early Supreme Court case stated, "Income may be defined as the gain derived from capital, from labor, or from both combined, provided it is understood to include profit gained through a sale or conversion of capital assets."
"A couch," Oteri said. "I have gotten it reupholstered three or four times. I remember a designer coming over in tears and he goes, 'Oh, those arms are too high.
Labor burden is the actual cost of a company to have an employee, aside from the salary the employee earns. Labor burden costs include benefits that a company must, or chooses to, pay for employees included on their payroll.