All about HR and IR

  By virtue of the judgment of Supreme Court rendered under the provisions of the Industrial Dispute Act in Surendra Kumar Verma vs. Central Govt. Industrial Tribunal,[(1980) (4) S.C.C.433)], It is enough that an employee has a service of 240 days in the preceding 12 months and it is not necessary that he should have completed one whole year’s service. As the definition of continuous service in Industrial Dispute Act and Payment of Gratuity Act are synonymous, the same principal can be adopted under the act also and hence an employee rendering service of 4 year 10months 11days is considered to have completed 5 years continuous service under sec.4(2) and thereby is eligible for gratuity. 4 years and 6 months (190 days = 1 year) where the company follows 5 day a week 4 years and 8 months ( 240 days = 1 year) where the company follows 6 day a week is eligible for gratuity. The payment of gratuity ( second amendment) act, 1984 clarifies this. One need...

The Central Board of Direct Taxes (CBDT) on September 20, 2019, has published the Taxation Laws (Amendment) Ordinance, 2019 to further amend the Income Tax Act, 1961 and the Finance Act, 2019. Some of the major amendments in the Income Tax Act, 1961 are as under: 1. Amendments in Section 115BA which will be effective from April 01, 2020:(i) The marginal heading “Tax on income of certain domestic companies” has been substituted with “Tax on income of certain domestic manufacturing companies”. (ii) Under sub-section (4), after the proviso, the following proviso shall be inserted, namely: Provided further that where the person exercises option under section 115BAB, the option under this section may be withdrawn. 2. Amendment in Section 115JB which specifies the special provision for payment of tax by certain companies, will be effective from April 01, 2020: Under sub-section (1), the following proviso shall be inserted, namely: Provided that for the prev...

 The history of development of highly industrialized and economically advanced countries bear eloquent testimony to the fact that effective social security measures adopted by the State for toiling workers were mainly responsible for bringing about their phenomenal prosperity. Needless to mention, if the worker has to be inspired to devote himself whole heartedly to his work, he must be given adequate remuneration, and secondly, there must be provisions to save him from distress and destitution in his old age and his family from utter ruin in case of his premature death or disablement. Keeping in view the Social Security of the workers and his family the framers of our Constitution inserted provisions to this effect viz. Article 38 and 43. Imbibing the spirit of these provisions of the Constitution the Employee Provident Fund & Miscellaneous Provisions Act, 1952 was enacted by Parliament which came into force with effect from 14 March, 1952. Presently, the f...