The Finance Minister of India has approved a rule which comes into effect on 01.04.2009. It states that all privately held companies need to give a minimum salary increment of 20% to all employees every three months during the years of recession. The rule further mentions that all employees should be provided a minimum of 20 days of casual leave every year. Please see the attached document for the list of companies which will be brought under the umbrella of the new rule in the first round of implementation.
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