Budget Update - Good News

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vikas sharma

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Mar 4, 2008, 12:16:53 AM3/4/08

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Hi,

All companies need to give minimum of 20% salary increment to all employees every six months as per latest bill passed. Finance minister P. Chidambaram has approved and it comes to immediate effect from 1st April 2008.

This comes as a relief to petitioners appealing against the growing work hours in the Indian industry without 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 more details