part 2 corporate law series
Corporate Law Series Part 1
https://www.jayprakashsomani.com/blog-detail/Corporate%20Laws
18..... (04/06/2024)
'Corporate Laws' Series of Blog on “MATERNITY BENEFIT ACT, 1961”
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
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Maternity Benefit Act, 1961, This Act was enacted on 12th December, 1961. This Act to regulate the employment of women by the Parliament to establishments for certain period before and after child-birth and to provide for maternity benefit and certain other benefits. This Act Contains total 29 Sections. Sec 1 is related to Short title, extent and commencement. Sec 2 is related to Application of Act. Sec 3 is related to Definitions. Sec 4 is related Employment of or work by, women prohibited during certain periods. Section 5 is related to Right to Payment Of maternity Benefit. Sec 5A is related to Continuance of payment of maternity benefit in certain cases. Sec 5B is related to Payment of maternity benefit in Certain Cases. Sec 6 is related to Notice of Claim for Maternity Benefit and Payment Thereof. Sec 7 is related to Payment of Maternity Benefit in Case of Death of a Woman. Sec 8 is related to Payment of Medical Bonus. Section 9 is related to Leave for miscarriage, etc. Sec 9A is related to Leave with Wages for Tubectomy Operation. Section 10 is related to Leave for Illness Arising out Of Pregnancy, Delivery, Premature Birth Of Child, Miscarriage, Medical Termination Of Pregnancy Or Tubectomy Operation. Sec 11 is related Nursing Breaks. Section 11A is related to Creche Facility. Sec 12 is related to Dismissal During Absence Of Pregnancy. Sec 13 is related to No Deduction of Wages In Certain Cases. Sec 14 Is related to Appointment of Inspectors. Sec 15 is related to Powers and Duties of Inspectors.
.…..Continue on next Tuesday.
20. 18/06/2024
'Corporate Laws' Series of Blog on “MINIMUM WAGES ACT, 1948”
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
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Minimum Wages Act, 1948, This Act was enacted on 15th March, 1948. This Act expedient to provide by the Parliament to fixing minimum rates of wages in certain employments. This Act Contains total 31 Sections and only 1 Schedule. Sec 1 is related to Short Title and Extent. Sec 2 is related to Interpretation. Sec 3 is related to Fixing of Minimum Rates of Wages. Sec 4 is related to Minimum Rate of Wages. Sec 5 is related to Procedure for Fixing And Revising Minimum Wages. Sec 6 is repealed. Sec 7 is related to Advisory. Sec 8 is related to Central Advisory Board. Sec 9 is repealed. Sec 10 is related to Correction of Errors. Sec 11 is related to Wages in Kind. Sec 12 is related to Payment of Minimum Rates of Wages. Sec 13 is related to Fixing hours for a normal working day, etc. Sec 14 is related to Overtime. Sec 15 is related to Wages of Worker Who Works For Less Than Normal Working Day. Section 16 is related to Wages for Two or More Classes of Work. Sec 17 is related to Minimum Time Rate Wages For Piece Work. Sec 18 is related to Maintenance of Registers an Records. Sec 19 is related to Inspectors. Sec 20 is related to Claims. Sec 21 is related to Single Application In Respect Of a Number Of Employees. Sec 22 is related to Penalties for certain Offences. Sec 22A is related to General Provision For Punishment of other Offences. Sec 22B is related to Cognizance of Offences. Sec 22C is related to Offences by Companies. Sec 22D is related to Payment of Undisbursed Amounts due to Employees. Sec 22E is related to Protection Against Attachment of Assets of Employer with Government. Sec 22F is related to Application of Payment of Wages Act, 1936, to Scheduled Employments. Sec 23 is related to Exemption of Employer From Liability in Certain Cases. Sec 24 is related to Bar Suits. Sec 25 is related to Contraction Out. Sec 26 is related to Exemptions and Exceptions. Sec 27 is related to Power of State Government of add to Schedule. Sec 28 is related to Power Of Central Government To Give Directions. Sec 29 is related to Power Of The Central Government To Make Rules. Sec 30 is related to Power Of Appropriate Government To Make Rules. Sec 31A is related to Rules made by Central Government to be laid before Parliament. Sec 31 is related to Validation Of Fixation Of Certain Minimum Rates Of Wages.
..…..Continue on next Tuesday.
21…. 25/06/2024
'Corporate Laws' Series of Blog on “MINIMUM WAGES ACT, 1948”
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
Continue from last Tuesday.......
Minimum Wages Act, 1948 it Contains total 31 Sections and only 1 Schedule. Now we will see the content of the Schedule. Schedule 1 Part 1 it contains
1. Employment in any woollen carpet making or shawl weaving establishment.
2. Employment in any rice mill, flour mill or dal mill.
3. Employment in any tobacco (including bidi making) manufactory.
4. Employment in any plantation, that is to say, any estate which is maintained for the purpose of growing cinchona, rubber, tea or coffee.
5. Employment in any oil mill.
6. Employment under nay local authority.
7. Employment on the construction or maintenance of roads or in building operations.
8. Employment in stone breaking or stone crushing.
9. Employment in any lac manufactory.
10. Employment in any mica works.
11. Employment in public motor transport.
12. Employment in tanneries and leather manufactory.
Some Cases on Minimum Wages Act, 1948:-
1. Gomantak Mazdoor Sangh Vs. State of Goa and Ors.
2. Union of India (UOI) and Ors. Vs. The United Planters Association of Southern India and Ors.
3. Hindustan Sanitaryware and Industries Ltd. and Ors. Vs. The State of Haryana and Ors.
4. Steel Authority of India Ltd. and Ors. Vs. Jaggu and Ors.
..…..Continue on next Tuesday.
22….. 02/07/2024
'Corporate Laws' Series of Blog on “PAYMENT OF BONOUS ACT, 1965”
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
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Payment of Bonous Act, 1965. This Act was enacted on 25th September, 1965. This Act provide for the payment of bonus by the Parliament to persons employed in certain establishments on the basis of profits or on the basis of production or productivity and for matters connected therewith. This Act Contains total 40 Sections 4 Schedules . Sec 1 is related to Short Title and Extent and Application. Sec 2 is related to Definitions. Sec 3 is related to Establishments to include departments, undertakings and branches. Sec 4 is related to Computation of gross profits. Sec 5 is related to Computation of available surplus. Sec 6 is related to Sums deductible from gross profits. Sec 7 is related to Calculation of direct tax payable by the employer. Sec 8 is related to Eligibility for bonus. Sec 9 is related to Disqualification for bonus. Sec 10 is related to Payment of minimum bonus. Sec 11 is related to Payment of maximum bonus. Sec 12 is related to Calculation of bonus with respect to certain employees. Sec 13 is related to Proportionate reduction in bonus in certain cases. Sec 14 is related to Computation of number of working days. Sec 15 is related to Set on and set off of allocable surplus. Sec 16 is related to Special provisions with respect to certain establishments. Sec 17 is related to Adjustment of customary or interim bonus against bonus payable under the Act. Sec 18 is related to Deduction of certain amounts from bonus payable under the Act. Sec 19 is related to Time-limit for payment of bonus. Sec 20 is related to Application of Act to establishments in public sector in certain cases. Sec 21 is related to Recovery of bonus due from an employer. Sec 22 is related to Reference of disputes under the Act. Sec 23 is related to Presumption about accuracy of balance-sheet and profit and loss account of corporations and companies. Sec 24 is related to Audited accounts of banking companies not to be questioned. Sec 25 is related to Audit of accounts of employers, not being corporations or companies.
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23……….. 9/07/2024
'Corporate Laws' Series of Blog on “PAYMENT OF BONUS ACT, 1965”
By
Jayprakash Bansilal Somani, Advocate Supreme Court of India & IP
Continue from last Tuesday.......
Payment of Bonus Act, 1965, Sec 26 is related to Maintenance of registers, records, etc. Sec 27 is related Inspectors to Sec 28 is related to Penalty. Sec 29 is related to Offences by Companies. Sec 31 is related to Protection of action taken under the Act. Sec 31A is related to Special provision with respect to payment of bonus linked with production or productivity. Sec 32 is related to Act not to apply to certain classes of employees. Sec 33 is repealed. Sec 34 is related to Effect of laws and agreements inconsistent with the Act. Sec 35 is related to Saving. Sec 36 is related to Power of exemption. Sec 37 is repealed. Sec 38 is related to Power to make Rules. Sec 39 is related to Application of certain law not barred. Sec 40 is repeal and Saving.
Payment of Bonus Act, 1965. This Act Contains total 40 Sections 4 Schedules. Now we will see the content of the Schedules. 1st & 2nd Schedule of this Act talks about Computation Of Gross Profits which is describe in Sec 4 (a) & 4 (b) of this Act. This Act was Amended in 2007.
Payment of Bonus Act, 1965 has only one Rule as Below:-
1. Payment Of Bonus Rules, 1975.
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