Employee Compensation And Benefits In India Under Labor Law Act At Present Time?

[Ekta Rai]

Some amendment in labor Law by government hence, pls explain anybody employee compensation and benefits in India under labor law Act at present time

[Neha S]

Hi Ekta,
Almost all the monetary labor laws like the Payment of Wages Act,1936, the Payment of Bonus Act,1965, the Payment of Gratuity Act,1972 etc., have been amended in the last decade so as to widen their applicability as well as increase the quantum of benefits under them the combined effects of which have substantially raised the overall compensation of employees covered under them. Similarly, the salary limits of employees under the ESI and EPF Acts also stand enhanced so as to cover more no of employees and increase the cost of fringe benefits. Periodical increase in the no of scheduled employments and revision of minimum rates of wages under the Minimum Wages Act,1948 also added to the compensation package on the whole. So, better you go through various threads in the citeHR relating to the recent amendments of labor laws.