The funding ratio of defined benefit retirement plans sponsored by employers will gradually increase from 80 percent of the liability to 90 percent beginning 1 January 2019, and to 100 percent on 1 January 2021. Noncompliance with the funding target […]
A new law concerning labor in the private sector (Law No. 85 of 2017) that entered into force on 6 June 2017, clarifies that weekends, public holidays and sick leave should no longer be counted as part of annual holiday. […]
The Payment of Gratuity Act 2018, which increases the gratuity limit from INR 1 million to INR 2 million, received Presidential assent on 28 March 2018 and came into force on 29 March 2018. (See also January 2018 alert.)