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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.
ABC Everyday
Experts say some Australians have reoriented their work-life balance recently, with COVID-19 lockdowns leaving some feeling exhausted or torn between work and family demands.
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Ellen Rees was juggling her demanding job with parenting amid COVID restrictions in late 2020 when she realised something had to give .
So the southern Tasmania-based secondary teacher decided to step back at work for 2021, switching to a three-day workload and giving up her management role as Head of Department.
The result: More time with her kids, and more space for her own creative pursuit writing which Ellen says plays a therapeutic or a self-care role by helping her process the challenges of the last few months.