A Quick Guide to Set-On and Set-Off What Is Statutory Bonus? Important: The law does not specify one particular company that pays the “highest” bonus. The amount depends on employee eligibility, wages and the establishment’s allocable surplus. Who Is Eligible? An employee generally needs to: How Much Bonus Is Payable? The actual percentage depends on…
Under the Code on wages the definition of wages has been restricted to 50% of the whole salary. All the other excluded components must be under 50% beyond which they also become part of wages. It is done to make sure employers do not inflate allowances and reduce statutory contributions. What is included in “wages”?…
REGISTERS ARE NOT JUST RECORDS, THEY ARE YOUR COMPLIANCE TRAIL THERE ARE 3 CORE RECORDS THE COMPLIANCE CHAIN EMPLOYEE → ATTENDANCE → OVERTIME → WAGES → DEDUCTIONS → PAYMENT Every link must be accurate, consistent & reconcilable. KEY HR & PAYROLL CHECKS RECORD PRESERVATION Preserve prescribed registers and records for 5 years from the last…
Introduction The Contract Labour (Regulation and Abolition) Act, 1970 (CLRA Act) governs the employment of contract labour in India. To improve the ease of doing business, simplify compliance procedures, and reduce unnecessary litigation, the Government of Uttar Pradesh introduced the Contract Labour (Regulation and Abolition) (Uttar Pradesh Amendment) Act, 2017, which received Presidential assent on…
What is the Minimum Wages Act, 1948? The Minimum Wages Act, 1948 is one of the most important labour laws in India, enacted to protect workers from exploitation by ensuring they receive fair wages for their work. The Act empowers both the Central and State Governments to fix and revise minimum wages for scheduled employments,…
Complete Guide for Employers & Employees | Salary Structure & Compliance Introduction The 50% Wage Rule under the Labour Codes in India has become an important issue for employers, HR professionals, payroll teams and employees while reviewing salary structures and statutory compliance. The rule is associated with the revised definition of “wages” under Section 2(y)…
Labour Codes Compliance in India: Everything Employers Need to Know India’s labour law landscape has undergone one of the most significant reforms in recent decades with the consolidation of 29 central labour laws into four Labour Codes. These reforms aim to simplify compliance, improve ease of doing business, enhance worker welfare, and establish a uniform…
Plot No. 1984, LGF, Sector-45, Sector 45, Gurgaon, Gurugram-122003, Haryana, India
