Aparajitha’s ‘60 Minutes Compliance’ Webinar decodes Labour Compliance vis-a-vis Salary
Chennai, June 30, 2021: Aparajitha Corporate Services Private Limited, the country’s no.1 company for Comp liance, today organized a ’60 Minutes Compliance’ webinar to discuss Labour Compliance vis-a-vis Salary.
The webinar focussed on explaining how the term ’Salary’ varies under different labour legislations and how sal ary consists of ‘inclusive’ and ‘exclusive’ portions and how there is no ratio prescribed between the two. The dis cussion was completely based on the recently proposed Labour Codes Point of View and how under the codes, the definition is going to be common, with a 50 % ceiling fixed for ‘exclusive portion’ of the monthly wages which otherwise can be stated as at least 50% of the monthly compensation shall be necessarily considered as wages for any purpose, subject, of course, to the restriction, if any, notified.
Speaking on the occasion, Mr. Nagaraj Krishnan, Managing Director, Aparajitha Corporate Services Private Lim ited said, “The earlier legislation allowed a lot of loopholes through which salary structures could be tweaked by organi zations which might have been discriminatory to the workforce of an organization at certain instances especially in Gra tuity, Bonus and Provident Fund. The salary structures which have the wage portion working out to less than 50% might be revisited under the newly proposed codes. This significant change could have an impact on other areas like PF, ESI, Bo nus, Gratuity, etc. The webinar intended to take deep-dive into it and explain to people what the term ‘salary’ means, wh at aspects put together it, and certain nuances of the term that are often missed by many.”
The webinar, which saw participation by individuals comprising of HR professionals and mid & senior level personnel across various industry sectors, was moderated and addressed by Mr. K. Varadan, Chief Consultation Officer, Aparajitha Corporate Services Private Limited.
About Aparajitha
Incorporated in the year 2000, Aparajitha Corporate Services Private Limited is today India’s No.1 Company for Compliance. With a presence in all the states and union territories across the country, Aparajitha is well reco gni sed as a Pan-India expert in dealing with the complexities of Labour Law and Industrial Law compliances. The co mpany’s 1500 plus clientele ranges from start-ups to Industrial Giants to Multinational Companies to reputed Co rporate houses across industries, regions, and segments. Aparajitha’s cost-effective solutions are designed to address all the current and future compliance requirements of companies. The operations and services are guid ed by professionalism and principles that stem out from Aparajitha’s core values and business ethics of integrity, trust, continuous learning, and partnering progress. The company’s goal is to build enduring long-term relatio ns hips with clients by partnering with them for mutual growth and benefit.
