50% limit under Labour Code: India Inc wants cap on allowances relaxed

Industry is keen that the cap be relaxed to 60% from 50% and gratuity norms, which mandate pay outs to be calculated for the past years on the basis of last drawn wages on last working day, be deferred to offset the immediate financial impact at a time when the Covid-19 pandemic had dented revenues.

from Personal Finance News-Wealth-Economic Times https://ift.tt/3x7bhmV