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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.
As of 4th June 2024 NDA have government in 19 States and 1 Union Territories. INDIA bloc have government in 8 States and 2 union Territories. Other one party ZPM, which is not part of any alliance has government in Mizoram state.
Indian labour law refers to law regulating labour in India. Traditionally, the Indian government at the federal and state levels has sought to ensure a high degree of protection for workers, but in practice, this differs due to the form of government and because labour is a subject in the concurrent list of the Indian Constitution .
This law applies to all establishments employing 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 ₹ 10,00,000.
Sell Your Photography Online. If you’re more than an amateur photographer but don’t do anything commercially with the photos you take, consider selling them online.Sites like Getty Images ...
The bill received assent from President Ram Nath Kovind on 8 August, and was notified in The Gazette of India on the same date. [8] The Union Ministry of Labour issued draft rules under section 67 of the Act on 7 July 2020 in the Gazette. The draft rules remained open for public feedback for 45 days and are expected to come into force soon. [9]
12 June – The Indian external affairs ministry issues a notice urging the Russian Government to quickly return all Indian nationals who are serving in the Russian army after two Indians recruited are killed in the war with Ukraine. [86] 14 June – 2024 Northeast India floods: Heavy rains and landslides kill six people across Sikkim. [87]
The IRS increased the limit for QCDs in 2024 to $105,000, up from $100,000 previously. Note that this rule only applies to IRAs. Any savings in a defined contribution plan like a 401(k) is still ...