New Labour Codes to be Implemented from April 1
Summary - The Indian government recently announced that the four new labour codes, which are set to simplify and unify existing labour regulations, will be implemented from April 1, 2025. This is anticipated to bring significant changes to the HR policies in companies across India. The codes include provisions for minimum wages, social security, and occupational safety.
Opinion:
This is a significant development in the Indian labour law landscape. It indicates the government's commitment to creating a more flexible and simplified regulatory framework for both employers and employees. However, businesses will need to carefully review and potentially overhaul their HR policies to ensure compliance with these new codes.
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Rise in Remote Working Opportunities in Indian Companies
Summary - A recent survey indicated that Indian companies are planning to offer more remote working opportunities, suggesting a permanent shift in work culture post-pandemic. The survey involved more than 500 companies across various sectors and regions in India.
Opinion:
This shift towards remote work is a response to the changing needs and preferences of the modern workforce. It offers benefits such as reduced operational costs for companies and increased flexibility for employees. However, it also presents new challenges for HR professionals, including maintaining employee engagement and productivity in a remote environment.
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Government to Increase Tax Exemption Limit on Gratuity
Summary - The Indian government announced plans to increase the tax exemption limit on gratuity from INR 20 lakhs to INR 30 lakhs. The move is aimed at providing more financial security to retiring employees.
Opinion:
This is a welcome move as it will increase the post-retirement benefits of employees, boosting their financial security. However, companies will have to adjust their financial planning and payroll processes accordingly to accommodate this change.
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India's Gig Economy Grows Amid Pandemic
Summary - A recent report suggests that India's gig economy has witnessed significant growth amid the pandemic, with an increase in the number of freelance and part-time job opportunities across various sectors.
Opinion:
The growth of the gig economy presents new opportunities for HR professionals in terms of talent acquisition and workforce management. However, it also raises questions about job security and employee benefits, which companies will need to address to attract and retain talent in this new economy.
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From India, Gurugram
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39Summary - The Indian government recently announced that the four new labour codes, which are set to simplify and unify existing labour regulations, will be implemented from April 1, 2025. This is anticipated to bring significant changes to the HR policies in companies across India. The codes include provisions for minimum wages, social security, and occupational safety.
Opinion:
This is a significant development in the Indian labour law landscape. It indicates the government's commitment to creating a more flexible and simplified regulatory framework for both employers and employees. However, businesses will need to carefully review and potentially overhaul their HR policies to ensure compliance with these new codes.
-------------------
Rise in Remote Working Opportunities in Indian Companies
Summary - A recent survey indicated that Indian companies are planning to offer more remote working opportunities, suggesting a permanent shift in work culture post-pandemic. The survey involved more than 500 companies across various sectors and regions in India.
Opinion:
This shift towards remote work is a response to the changing needs and preferences of the modern workforce. It offers benefits such as reduced operational costs for companies and increased flexibility for employees. However, it also presents new challenges for HR professionals, including maintaining employee engagement and productivity in a remote environment.
-------------------
Government to Increase Tax Exemption Limit on Gratuity
Summary - The Indian government announced plans to increase the tax exemption limit on gratuity from INR 20 lakhs to INR 30 lakhs. The move is aimed at providing more financial security to retiring employees.
Opinion:
This is a welcome move as it will increase the post-retirement benefits of employees, boosting their financial security. However, companies will have to adjust their financial planning and payroll processes accordingly to accommodate this change.
-------------------
India's Gig Economy Grows Amid Pandemic
Summary - A recent report suggests that India's gig economy has witnessed significant growth amid the pandemic, with an increase in the number of freelance and part-time job opportunities across various sectors.
Opinion:
The growth of the gig economy presents new opportunities for HR professionals in terms of talent acquisition and workforce management. However, it also raises questions about job security and employee benefits, which companies will need to address to attract and retain talent in this new economy.
-------------------
From India, Gurugram
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Tax Exemption (SUPERB).doc