[F4AG] Increment Details regulated by govt soon.....

 

Finally…     Finance minister Pranab Mukherjee has approved a Bill which comes into effect on 01.04.2010 and it states that all Privately Held companies need to give a minimum salary increment of 15% to all employees every six months. Since the bill was introduced before the setting up of code of conduct by EC, it would be implemented. This bill is also expected to give a major boost to Congress's poll prospects (many states are going to have assembly election soon).   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.

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