Good News! All companies are now required to provide a minimum 20% salary increment to all employees every six months, as per the latest bill passed. Finance Minister P. Chidambaram has approved this, and it will take effect from 1st April 2008, following the financial period in March. This decision brings 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 receive 20 days of casual leave annually. Please refer to the attached document for further details.
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