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Application of the Act When gratuity is payable Amount of gratuity payable Power of exempted Obligations and rights of the employer Penalties Sec.2(e) "employee" means any person employed to do any skilled, semi-skilled, or unskilled, manual, supervisory, technical or clerical work it does not include an apprentice Sec.2 (s) "wages" includes dearness allowance but does not include any bonus, commission, house rent allowance, overtime wages and any other allowance.
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Dear Seniors & Friends, Sharing the updated PPT on "Provident Fund & MP Act 1952" of India. Kindly have a look on the Same & Share your valuable feedback & suggestion. If you found any mistake kindly update me for the modification the same. Regards, Anshu Shekhar Singh Mob: 9999 844 355
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A bonus payment is usually made to employees in addition to their base salary as part of their wages or Salary. While the base salary usually is a fixed amount per month, bonus payments more often than not vary depending on known criteria, such as the annual turnover, or the net number of additional customers acquired, or the current value of the stock of a public company. Thus bonus payments can act as incentives for managers attracting their attention and their personal interest towards what is seen as gainful for their companies' economic success. There are widely‐used elements of pay for performance and working well in many instances, including when a fair share of an employees participation in the success of a company is desired. There are, however, problematic instances, most notably when bonus payments are high. When they are tied to possibly short-lived figures such as an increase in monthly turnover, or cash flow generated from an isolated marketing action, such figures often do not reflect a solid reliable win for a company, and they certainly do not reflect a manager's lasting efforts to the company's best. On the contrary, such figures are prone to being adjusted or even manipulated to the benefit of those employees who are responsible for reporting them, while they are already planning their leave with a golden handshake.
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Useful for Law students, MBA- HR students, CS Students, Employees , Employer. I have also mentioned a list of forms generally used during gratuity. Every body should be aware of do's and don't. Knowledge of your rights makes you powerful. Application of the Act When gratuity is payable Amount of gratuity payable Forfeiture of gratuity Obligations and rights of the employer Compliance under the Act reference: http://blog.simplycareer.net/2013/06/gratuityact.html I have also refereed other sites and text books.
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The labor sector of our country faced increased exploitation at the hands of the contractors and thus were unable to safeguard their interests on their own. Many a times, they were forced to work for long hours at ridiculously low rates, and had no power to raise their voice against such instances. Hence, in order to ensure the payment of at least such amount of wages that makes them able to fulfill their necessities of life, Minimum Wages Act was enacted in 1948, provisions of which are represented in this particular presentation.
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OBJECTIVE : 1. To Provide for fixing minimum rates of wages in certain employments. 2. The provision of the act are intended to achieve the object of doing social justice to the worker employed in the scheduled employment by prescribing minimum rate of wages for them. 3. To achieve to prevent exploitation of labour & for that purpose the authorities under the act have been empowered to take step to prescribe minimum rate of wages in the scheduled industries. MINIMUM RATE OF WAGE: The minimum rates of wages may be fixed for different scheduled employments, different classes of work, in the same scheduled employments, adults, adolescents, children & apprentices & for different localities. The Act is being implemented by the Central & State Government , & such as both are empowered to frame rules. Minimum rate of the wages fixed or revised consists of the following:- a basic rate of wages & a special allowance i.e. cost of living allowance; a basic rate of wages with or without cost of living allowance & cash value of supplies of essential commodities; an all inclusive rate, i.e. basic rate, cost of living allowance & cash value of concessions. The Government may fix the minimum rates of wages either by the hour, day, month or by such large wage-period as may be prescribed which may be revised at intervals & reviewed, if felt necessary. The employer must pay every employee wages so fixed as notified by the Government.
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Attached is NewBase 17 May 2024 Energy News issue - 1725 by Khaled Al Awadi , Hope you find it of interest. https://www.linkedin.com/posts/khaled-al-awadi-38b995b_energy-news-issue-1725-by-khaled-al-awadi-activity-7197227866399354881-IC2p?utm_source=share&utm_medium=member_desktop Regards. Founder & S. Editor NewBase Energy Khaled M Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USA Attached is NewBase 17 May 2024 Energy News issue - 1725 by Khaled Al Awadi , Hope you find it of interest. https://www.linkedin.com/posts/khaled-al-awadi-38b995b_energy-news-issue-1725-by-khaled-al-awadi-activity-7197227866399354881-IC2p?utm_source=share&utm_medium=member_desktop Regards. Founder & S. Editor NewBase Energy Khaled M Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USA Attached is NewBase 17 May 2024 Energy News issue - 1725 by Khaled Al Awadi , Hope you find it of interest. https://www.linkedin.com/posts/khaled-al-awadi-38b995b_energy-news-issue-1725-by-khaled-al-awadi-activity-7197227866399354881-IC2p?utm_source=share&utm_medium=member_desktop Regards. Founder & S. Editor NewBase Energy Khaled M Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USA Attached is NewBase 17 May 2024 Energy News issue - 1725 by Khaled Al Awadi , Hope you find it of interest. https://www.linkedin.com/posts/khaled-al-awadi-38b995b_energy-news-issue-1725-by-khaled-al-awadi-activity-7197227866399354881-IC2p?utm_source=share&utm_medium=member_desktop Regards. Founder & S. Editor NewBase Energy Khaled M Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USA Attached is NewBase 17 May 2024 Energy News issue - 1725 by Khaled Al Awadi , Hope you find it of interest. https://www.linkedin.com/posts/khaled-al-awadi-38b995b_energy-news-issue-1725-by-khaled-al-awadi-activity-7197227866399354881-IC2p?utm_source=share&utm_medium=member_desktop Regards. Founder & S. Editor NewBase Energy Khaled M Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USA
NewBase 17 May 2024 Energy News issue - 1725 by Khaled Al Awadi_compresse...
NewBase 17 May 2024 Energy News issue - 1725 by Khaled Al Awadi_compresse...
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Raising capital is a pivotal process for any startup. This document outlines the vital phases every entrepreneur must navigate to transform an idea into a flourishing business. This resource provides a clear, detailed map of the funding landscape, from early angel rounds to the final stages before an IPO. Key Highlights from the Document: 1) Pre-Seed and Seed Funding: These initial stages are crucial for getting your startup off the ground, focusing on proving your concept and building a minimum viable product (MVP). 2) Series A to C Funding: As startups progress, funding rounds grow larger and focus shifts from proving viability to scaling the business, enhancing market share, and possibly even preparing for global expansion. 3) Bridge and Mezzanine Financing: These less common but crucial stages provide the necessary capital to bridge gaps between major funding rounds or prepare for a public offering. 4) IPO: The ultimate goal for many startups, going public opens new avenues for capital and provides liquidity for early investors.
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2024 has seen a number of employment law changes take effect, with some more planned for the near future. Keeping up to date with these changes is vital to avoid costly mistakes and to ensure that your workplace reaps the benefits which come from compliance with current law and best practice. Our free one-hour webinar, delivered by our employment solicitors, Claire Berry and Joanna Smye, discusses the most important employment law changes in 2024, reviews key cases from the last six months and provides you with practical advice on the important learning points to take away.
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minimum wages act 1948
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