Hi!
Good News !!!!!
Finance minister has approved a Bill which comes into effect on 01.04.2011and it states that all Privately Held companies need to give a minimum salary increment of 13.5 % to all employees every six months.
This comes as a relief to petitioners appealing against the growing work hours in the Privately Held organizations and which do not have a proper system to check overtime. The bill also mentions that all employees be provided 20 days of casual leave every year. Please see the attached document for the list of companies which will be brought under the umbrella of the Bill in the first round of implementation.
And if the name of your company features in the list, pls refer the attachment
CAclubindia
