50% limit under Labour Code: India Inc wants cap on allowances relaxed
The IT sector is known to keep performance bonus and other allowances as a large component in their compensation packages.
Synopsis
Industry is keen that the cap be relaxed to 60% from 50% and gratuity norms, which mandate pay outs to be calculated for the past years on the basis of last drawn wages on last working day, be deferred to offset the immediate financial impact at a time when the Covid-19 pandemic had dented revenues.
India Inc has asked the government to relax the cap on the allowance component of wages from the proposed 50% under the Labour Code, saying that it would financially hit companies.
Ludhiana: With the district administration imposing a strict lockdown in Urban Estate phases 1 and 2 of Dugri due to rising cases of coronavirus, movement of residents has been restricted. The businessmen living in these containment zones now cannot go to their factories until the restrictions are lifted.
Offering a solution, father-son businessmen duo of Rajnish Ahuja and Rahul Ahuja of Rajnish Industries has offered the factory owners living in these containment zones a complimentary stay in their four-star hotel till the restrictions are lifted. About 20 rooms of their hotel have been earmarked for the purpose and Ahujas have broadcast the message in WhatsApp groups, drawing a huge response.
April 20, 2021
×
As India’s median age rises from 27 in 2019 to 32 in 2030, vulnerability to air pollution will increase illnesses, mortality, says the Dalberg Advisors, Clean Air Fund, CII report
Air pollution costs Indian businesses about $95 billion (about ₹7-lakh crore) every fiscal year, around 3 per cent of India’s total GDP, according to a major research report.
The cost is equal to 50 per cent of all tax collected annually, or 150 per cent of India’s healthcare budget.
The findings in the report, undertaken by Dalberg Advisors in partnership with Clean Air Fund and the Confederation of Indian Industry, add urgency to tackling air pollution by outlining that it imposes heavy economic costs as well as devastating health impacts.
Souvagya Mohapatra joins Atmosphere Hotels & Resorts as Managing Director for India, Sri Lanka, Nepal, and Bhutan hotelierindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hotelierindia.com Daily Mail and Mail on Sunday newspapers.
Share
Bhubaneswar: Atmosphere Hotels & Resorts, an Indian Ocean hospitality group, has appointed Souvagya Mohapatra as the Managing Director for India, Sri Lanka, Nepal, and Bhutan.
Salil Panigrahi, Managing Director of Atmosphere Hotels & Resorts, said, “It gives us great pleasure to appoint Souvagya Mohapatra as Managing Director for India, Sri Lanka, Nepal, and Bhutan. A consummate veteran of the field, Souvagya comes with a wealth of experience of over 28 years in the hospitality and tourism sector and will be responsible for the overall business strategy and setting up new Atmosphere Hotels & Resorts in emerging destinations in South Asia. Souvagya has our complete confidence, and we wish him every success in his new role.”