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In India, gratuity is a type of retirement benefit. It is a payment made with the intent of monetarily helping an employee after his or her retirement. It was held by the Supreme Court of India in Indian Hume Pipe Co Ltd v Its Workmen that the general principle underlying a gratuity scheme is that by service over a long period the employee is entitled to claim a certain amount as a retirement ...
The worker appealed to the labour court, pleading that his dismissal was unfair under Indian Labour laws. The labour court sided with the worker, directed he be reinstated, with 50% back wages. The case went through several rounds of appeal and up through India's court system. After 22 years, the Supreme Court of India upheld his dismissal in 2005.
Labour in India refers to employment in the economy of India. In 2020, there were around 476.67 million workers in India, the second largest after China. [ 2 ] Out of which, agriculture industry consist of 41.19%, industry sector consist of 26.18% and service sector consist 32.33% of total labour force. [ 2 ]
Government employees in the India are entitled to following benefits: [5] [6] Pension; Leave encashment; Gratuity on Death; Medical facilities under Union Government Health Scheme; Single male employees and female employees in the Union government are eligible for child care leave for 730 days. [7]
The Code on Wages, 2019, also known as the Wage Code, is an Act of the Parliament of India that consolidates the provisions of four labour laws concerning wage and bonus payments and makes universal the provisions for minimum wages and timely payment of wages for all workers in India.
The Acts and Schemes framed under it are administered by the Central Board of Trustees, which consists of representatives of Central and State governments, employers, and employees. The Board administers a contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organised sector in India. [9]
The simple administration with provision for a secure income for pensioners is the advantage of this scheme while the employer, i.e., government in this case, bears the risk. Having a pure DB or PAYG system of pension costs heavily on the Government finances. [ 10 ]
Pay the employer share of social security and Medicare taxes based on the reported tip income. [120] Employers should distinguish between service charges and tipped income and file and report the two separately. An employer operating a large food or beverage establishment will need to file a specific Form 8027 for each establishment they operate.