Hi,
All companies are required to provide a minimum of a 33% salary increment to all employees annually as per the proposed bill. Finance Minister P. Chidambaram has approved this, and it will take effect immediately from 1st April 2008, following the financial period in March. This development serves as a relief to petitioners who have raised concerns about the increasing work hours in the Indian industry without a proper system to monitor overtime. The bill also stipulates that all employees must be granted 30 days of casual leave each year.
Please refer to the attachment for further details.
Regards,
Jothi
All companies are required to provide a minimum of a 33% salary increment to all employees annually as per the proposed bill. Finance Minister P. Chidambaram has approved this, and it will take effect immediately from 1st April 2008, following the financial period in March. This development serves as a relief to petitioners who have raised concerns about the increasing work hours in the Indian industry without a proper system to monitor overtime. The bill also stipulates that all employees must be granted 30 days of casual leave each year.
Please refer to the attachment for further details.
Regards,
Jothi
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