Start-Up Benefits: What Are We Required to Offer Employees Under CTC Norms?

Hi All,

Ours is a start-up company just a year old. What are the benefits the company is liable to provide the employees (employees less than 10) as per the various norms in the CTC?

Kindly do the needful.

Thanks,
Sowmya

For every regular employee hired, they will fall under various labor laws and benefits. Some are as follows:

1. Entitled to leaves as per the Factories/Shops Act (depending on which act the company falls under).

2. Gratuity is applicable to those who complete a 5-year tenure with the organization, but the budgeted amount needs to be kept for the same.

3. In case of any accident or death, workmen's compensation will be applicable, which is to be borne by the company. If there is a policy in place, then the policy owner company will bear the cost.

4. PF and ESIC will be applicable once the limit of 20 people is crossed.

5. The Maternity Act is applicable along with recent amendments.

6. The Minimum Wages Act is applicable.

Thank you.