The Employee’s Compensation (Amendment) Bill, 2016 was introduced in Lok Sabha on August 5, 2016 by the Minister for Labour and Employment, Mr. Bandaru Dattatreya. The Bill amends the Employee’s Compensation Act, 1923. The Act provides payment of compensation to employees and their dependants in the case of injury by industrial accidents, including occupational diseases.
The interim order passed by the high Court in WMP NO.6177 of 2016 in WP No. 6958 of 2016 on 25.02.2016, granting interim stay of the retrospective effect of the amendment to the Payment of Bonus Act 1965.
1. Withdrawal age has been increased from 54 years to 57 years under para 68NN – Withdrawal within one year before retirement.
2. New Para 68-NNNN has been introduced “Option for withdrawal on cessation of Employment” (i.e. before attaining retirement age or 58 yrs). Employee can withdraw only his own share of total contribution including the interest thereon [...]
Effective 01-01-2015 the PF admin charges (under Account No.2) has been reduced from 1.1o% to .85% and therefore the final Employer PF contribution comes down to 13.36%. The PF admin charges will be a minimum of Rs. 500 and minimum EDLI charges of Rs. 200 even if the number of employees drop to one and [...]
The Labour Minister, Narendra Singh Tomar on 24th June 2014 assured the Central representatives of the unions the decision to implement Rs.1,000 minimum monthly pension and higher monthly Provident Fund wage ceiling of Rs.15,000.
Bata india's HR problem case study - December 31st, 2013
Bata India's HR Problems
For right or wrong reasons, Bata India Limited (Bata) always made the headlines in the financial dailies and business magazines during the late 1990s. The company was headed by the 60 year old managing director William Keith Weston (Weston). He was popularly known as a "turnaround specialist" and had successfully turned around many sick companies within the Bata Shoe Organization (BSO) group.
By the end of financial year 1999, Bata managed to report rising profits for four consecutive years after incurring its first ever loss of Rs. 420 mn in 1995. However, by the third quarter ended September 30, 2000, Weston was a worried man. Bata was once again on the downward path. The companys nine months net profits of Rs 105.5 mn in 2000 was substantially lower than the Rs. 209.8 mn recorded in 1999. Its staff costs of Rs. 1.29 bn (23% of net sales) was also higher as compared to Rs. 1.18 bn incurred in the previous year. In September 2000, Bata was heading towards a major labour dispute as Bata Mazdoor Union (BMU) had requested West Bengal government to intervene in what it considered to be a major downsizing exercise.
Bata- A Household Name
With net revenues of Rs. 7.26 bn and net profit of Rs. 300.46 mn for the financial year ending December 31, 1999, Bata was India's largest manufacturer and marketer of footwear products. As on February 08, 2001, the company had a market valuation of Rs. 3.69 bn. For years, Bata's reasonably priced, sturdy footwear had made it one of India's best known brands. Bata sold over 60 million pairs per annum in India and also exported its products in overseas markets including the US, the UK, Europe and Middle East countries. The company was an important operation for its Toronto, Canada based parent, the BSO group run by Thomas Bata, which owned 51% equity stake.
The company provided employment to over 15,000 people in its manufacturing and sales operations throughout India.