As we celebrate Labour Day every year on 1st May, we have listed 10 things that employees need to know about Indian Labour law. Tap to check!
The contract is a document that details the regulations of employment mutually agreed upon by the employer and employee.
Provident Funds are long-term savings plans in which a portion of an employee's salary is saved and deposited into a PF account to provide pensions upon retirement.
The Payment of Bonus Act of 1965 aims to provide bonuses to their employees depending on corporate earnings or productivity.
Under this act, each company is required to pay wages or salaries to its employees by the 7th of each month.
If the company recruits for a similar position, it must not discriminate based on gender, race, or caste.
Women employees are allowed paid maternity leave, which has been expanded from 12 to 26 weeks, and those with two or more children receive 12 weeks of paid leave.
As written under The Minimum Wages Act, of 1948, employees who work beyond their usual hours are eligible for overtime pay under the Minimum Wage Act of 1948.
Companies must follow state regulations when developing leave policies, which include holidays, casual leaves, privileged leaves, compensating leaves, and unpaid leave.
Under the act, employees who have been with a company for more than five years are eligible for gratuity, which is equal to 15 days' pay for each year of service.
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