There are many issues that will have to be resolved before the committee's recommendations can be translated into practice. First, the backlash from clubby bureaucrats from the elite all-India services will have to be dealt with. Then, the experiment with a more flexible system and variable pay based on performance should not be introduced across the board, but tried out in a dozen or two enterprises, to see how it works in practice.
Home and kitchen appliances, electronic products, apparel and B-segment cars stand to gain.
Healthcare sector is hiring staff, says Monster.com.
Workers had stopped production lines to protest a delay in salary hikes after 10 months of negotiations.
Salaries of the MPs will rise from Rs 12,000 to Rs 16,000 per month.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
A pay commission for MPs should also be able to resolve an associated controversy over the compensation package for parliamentarians.
Global companies, e-commerce platforms and software product firms all want skilled digital workers.
Sebi found that on average, the remuneration paid to CEOs in certain Indian companies are far higher than the remuneration received by their foreign counterparts.
24% claim exemption from income tax or say they have no income at all, discovers Manoj K.
A slew of sops were announced for teachers, employees of municipalities and others.
The recent spate of technical glitches in aircraft has prompted the Directorate General of Civil Aviation (DGCA) to issue an order on July 18, making aircraft maintenance engineers (AMEs) with category B1/B2 licences the final authorities in certifying planes. This has put the spotlight on the availability of such personnel. According to the order, airlines were resorting to frequent one-off authorisation by the Category A certifying staff at transit stations, which is not in line with existing regulatory provisions.
HR Guru Mayank Rautela offers practical advice.
The total salary and pension bill of the central government, which will also include Railway employees, will go up from estimated Rs 4.33 lakh crore to Rs 5.35 lakh crore during 2016-17
The Biden administration on Friday issued a formal notification to delay the implementation of the previous Trump regime's controversial rule to raise mandatory minimum pay for foreign workers on H-1B visa, the most sought after among Indian IT professionals. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations that require theoretical or technical expertise. The technology companies depend on it to hire tens of thousands of employees each year from countries like India and China. The Department of Labour in its federal notification published on Friday said that it is considering whether to propose a further delay of the final rule's effective date and accompanying implementation periods that are currently scheduled to take effect on May 14, 2021, and July 1, 2021, respectively.
'Assuming the official defence allocations represent the true picture, the $142 billion figure still represents a phenomenal increase and surpasses that of Japan ($42 billion), India ($40 billion), South Korea ($33 billion) and several other Asian countries put together and shows that China is flexing its military muscle.'
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
'Negotiate a longer agreement with the escalation clause fixed now.' 'This will enable you to control future cost increases.'
'When we look at the quality of our retail loan book, the non-performing asset percentage is low.'
Promoter of Ranbaxy Laboratories, Malvinder Mohan Singh, not only sold a strategic stake in his company to Japanese pharma major Daiichi Sankyoand, he even managed to get a good increment for himself. According to the company's extraordinary general meeting notice, Singh will now earn a salary and allowances of Rs 25 crore per annum as against Rs 19.58 crore earlier.
In a chat on rediff.com on Thursday, market expert A Shyamsunder offered some valuable investment tips.
Global IT companies will add around 1.08 lakh employees in India by 2010, by increasing the headcount to 2.73 lakh. This would be a 65.25 per cent increase from the 1.65 lakh employed by the end of 2007.
The board expansion comes against the backdrop of an ongoing tussle between the founders and the management over contentious issues such as CEO salary hike, severance package to former employees and corporate governance standards.
27 large listed firms give double-digit hikes to top executives despite a decline in net profit.
Tax experts said that in FY17 around 80,000 people had reported incomes of over Rs 1 crore
The Pay Commission's award will provide a windfall that can be used to both spend and invest wisely.
Tax benefit on WFH expenses, regulatory clarity on cryptos figure high on their wish list.
'Young professionals should be open for jobs in adjacent industries, pick up a contract job to have an opening balance, develop skills in the job in hand, invest in learning and develop cognitive skills and capacities.' 'Spend as per the need only.'
Top business house Reliance Industries has given its chief Mukesh Ambani, the country's richest person and presumably top-paid executive, a hefty pay hike of about 45 per cent to take his annual remuneration to over $10 million. Mukesh Ambani, chairman and managing director of Reliance Industries, got a total payout of Rs 44.02 crore (Rs 440 million) in financial year 2007-08, marking an increase of about Rs 13.5 crore (Rs 135 million) from the previous fiscal.
This is roughly 70% of the national transporter's budgeted wage bill of Rs 40,435 crore for the current financial year.
India, which registered highest average salary increase at 13.9 per cent in Asia in 2005, is expected to continue the trend of increased pay cheque with just 2.6 per cent of employers expecting salary freeze in the next year.
The market price action seems to point in this direction. Let's hope we finally break out. It is about time! asserts Akash Prakash.
Top officials said asking employees other than the fund management team to mandatorily invest a fifth of their salary goes against the principle of natural justice.
Employees across segments, including those involved in specialised jobs such as technology, compliance and risk management, have started leaving the bank fold in hordes, observes Tamal Bandyopadhyay.
The proposals before the ministry is to hike the tax exemption limit from the existing Rs 250,000 per annum to at least Rs 300,000 if not 500,000.
Although markets such as Mumbai and some places in the national capital region have continued to see a slowdown in the property markets over the last three years, developers were pinning their hope on the festive season.
The amendment bill will be made effective from April 1, 2015.
Rediff reader Sudipto Joel from Lucknow shares his inspiring story.
