Dear All,
It is very interesting discussion. Each member has contributed something but not in full. I would like to summaries as follows:-
-Wages for any completed moth are paid normally in the following month(Say April salary in the first week of may)
-Due date is 15 days from the end of the month to which salary pertains( 15th of May without 5 days of grace period.)
- Grace period is to be sparingly used and it can not be a regular practice
-Prior to 1.09.1997, damages levied were inclusive of interest portion but after 26.09.2008, damages are levied at 5% (for delay upto 59 days) 10% (for delay up to 199 days)15%(for delay up to 179 days) 25% (for delays of 180 days and above)
- damages are not automatic and courts can always be approached for relief if damages are not justified in certain circumstances as an equitable relief
G S Rao
It is very interesting discussion. Each member has contributed something but not in full. I would like to summaries as follows:-
-Wages for any completed moth are paid normally in the following month(Say April salary in the first week of may)
-Due date is 15 days from the end of the month to which salary pertains( 15th of May without 5 days of grace period.)
- Grace period is to be sparingly used and it can not be a regular practice
-Prior to 1.09.1997, damages levied were inclusive of interest portion but after 26.09.2008, damages are levied at 5% (for delay upto 59 days) 10% (for delay up to 199 days)15%(for delay up to 179 days) 25% (for delays of 180 days and above)
- damages are not automatic and courts can always be approached for relief if damages are not justified in certain circumstances as an equitable relief
G S Rao