Professional Documents
Culture Documents
The period of probation for an employee must be 6 months and on the basis of his/her
performance during that period, such employees must be either retrenched or employed
accordingly.
Minimum salary per month of an employee must be as follows:
At least one month of basic remuneration of a person shall be provided as festival expense for
the festival of his/her choice. Such festival expense must be provided on a proportionate basis
for employees who is in service for less than 1 years.
Where any enterprise derives profit for an Fiscal Year, bonus @ of 10% of such profit shall be
kept aside and paid to the employees within 8 months from end of each fiscal year.
Every employer shall deduct 10% of basic remuneration as PF and contribute the same amount
and deposit to Social Security Fund.
Every employer shall contribute 8.33% of basic remuneration of each employee as gratuity and
deposit the same to Social Security Fund.
Every employer shall cover the employees under annual Medical Insurance with minimum sum
insured of Rs. 1,00,000. The insurance premium for such must be paid half-half by both
employer and employee.
Every employer shall cover the employees under annual Medical Insurance with minimum sum
insured of Rs. 1,00,000. The insurance premium for such must be paid by both the employer.
Under Social Security Fund Schemes(mandatory from Karthik 1, 2076), the contribution from employer
and deduction from employees based on basic remuneration shall be as follows: