Partner - Risk Management
Talent Acquisition Expert
Graphic Designer
+1 Other

Thread Started by #rajatjain8594

I want to know the liabilities of any pvt. Ltd. Company towards employee’s of that company. Like leaves, increment procedure, monthly leaves, salary etc.
8th January 2015 From India, Kaul
Rajatjain8594: All that you mentioned aren't liabilities, but responsibilities. These exists and are detailed in the labor act/s. Read them, you'll get a fair understanding and then let us know if you want opinions or recommendations on specifics.
9th January 2015 From India, Mumbai
There are no liabilities as such. Being a responsible employer, your organization is supposed to follow certain rules, some of them could be generic to any business and some are specific to certain industries or establishments only.
1. Typically, PF, ESI, Wages/Min Wage Rules, Gratuity, Bonus, Contract Labour etc. shall be as according to central labour laws
2. Shops & Commercial Establishment Act shall be applicable for establishments covered as mentioned in relevant state rules
3. Factory act for factories
4.Professional Tax as per state rules
5. Labour Welfare Fund for 15 states/Union Territories
So based on state, nature of business, type of industry, number of employees, the responsibilities, maintenance of registers and returns and overall compliance can vary
9th January 2015 From India, Bangalore
As others pointed out, there seem to be some confusion in your mind.
Any business, whether pvt ltd, public ltd, proprietory or partnership, has the same liabilities towards its employees.
The liability being to pay them salary for the work done,
to pay them above minimum wages
and in case of termination of employment, give the dues as per law.
Minimum leave to be provided is also specified in the law. Whether it is to be encashed or not is also provided.
There is no law stating that increment is to be given. That is the decision of the business.
Ofcourse, there is nothing that prevents a business from giving any terms to its employees that are better than that required by law.

10th January 2015 From India, Mumbai
It is important to know whether yours is an establishment or a factory and which state you operate from.
16th January 2015 From India, Mumbai
Reply (Add What You Know) Start New Discussion

Cite.Co - is a repository of information created by your industry peers and experienced seniors. Register Here and help by adding your inputs to this topic/query page.
Prime Sponsor: TALENTEDGE - Certification Courses for career growth from top institutes like IIM / XLRI direct to device (online digital learning)

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2019 Cite.Co™