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When that happens, because the employer (i.e. the original company) remains the same legal entity, all contractual obligations stay the same. The directive and regulations apply to other forms of transfer, through the sale of physical assets and leases. The regulations also apply in some cases for work transferred to contractors.
The defining characteristics are that they have a distinct legal form and that they are established to operate in commercial affairs. While they may also have public policy objectives, GOCs should be differentiated from other forms of government agencies or state entities established to pursue purely non-financial objectives.
The Directive stipulates that any employee's contract of employment will be transferred automatically on the same terms as before in the event of a transfer of the undertaking. This means that if an employer changes control of the business, the new employer cannot reduce the employees' terms and conditions, unless the Directive's exception ...
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. [1]
Their goals include increasing exports, reducing imports, fostering infrastructure development, driving economic growth, and generating job opportunities. Each PSU has its own recruitment rules and employment in PSUs is highly sought after in India due to high pay and its job security, with most preferring candidates with a GATE score. [3]
A letter of undertaking and identity document of an Indian sponsor; Proof of residential address in India; Payment of registration fee of ₹ 100 (US$1.20) For employment visas: Copies of the terms and conditions of the contract of assignment, including salary, designation, and tenure of employment. For employment or business visas:
Syria's new Islamist leaders are undertaking a radical overhaul of the country's broken economy, including plans to fire a third of all public sector workers and privatising state-run companies ...
S.No PSU Inc. Ministry Headquarters Sector Group Ratna status; 1 Agriculture Insurance Company of India: 2002 Ministry of Finance: New Delhi: Services Insurance Services