www.trsreddyca.com

+91 44 42617079

[email protected]


	Home Partners Services Goods & Services Tax Corporate Services Corporate Finance Services for Non-Residents Accounting Services Payroll Benefits of Outsourcing Income Tax Audit Value Added Tax (VAT) Corporate Governance TDS Knowledge Bank Calculators GST Calculator Tax Calculator TDS Calculator Calculate Net Profit Calculate Net Worth Effective Capital HRA NSC EMI Auto Loan Calculator Home Loan Calculator Get No. Of Instalment Bulletins Notification Circular Income Tax Company Law Service Tax Excise Matters Customs RBI SEBI FEMA Labour Laws Central Sales Tax Accounting Standards The LLP Act 2008 Accounting Standard (INDAS) Others GST VAT Delhi VAT Maharastra VAT Gujarat VAT Telangana VAT Tamil Nadu VAT IGST UTGST Compensation Cess Utilities Rates of TDS TDS Rates for N.R.I us 195 Rates of Income Tax Cost Inflation Index Rates of NSC Interest Gold and Silver Rates Rates of Depreciation Under Income Tax Act Rates of Depreciation Under Companies Act ROC Fee Structure (As per Companies Act, 2013) ROC Filing Fees (As per Companies Act, 2013) Application & Petition Fees (NCLT) Rates of Stamp Duty Limited Liability Partnership Fees National Industries of Classification IFSC Codes MICR Codes HSN Rate List Comparison of Deduction u/s 80TTA & 80TTB Links Quick Links Important Links GST/VAT Links Ease Of Doing Business Acts Direct Tax Income Tax Act Wealth Tax Act Income Declaration Scheme 2016 Indirect Tax Service Tax(Finance Act, 1994) The Central Excise Act, 1944 Customs Act, 1962 Central Sales Tax Act, 1956 Entry Tax Act Corporate Laws Companies Act, 2013 Companies Act, 1956 The Limited Liability Partnership ACT, 2008 The Securities and Exchange Board of India Act, 1992 VAT Laws Delhi Value Added Tax Act, 2004 Maharashtra Value Added Tax Act (2002) Rajasthan Value Added Tax Act, 2003 Bihar Value Added Tax Act, 2005 Karnataka Value Added Tax Act, 2003 Andhra Pradesh Value Added Tax Act, 2005 The Uttar Pradesh Value Added Tax Act 2008 West Bengal Value Added Tax Act, 2003 Punjab Value Added Tax Act Haryana Value Added Tax Act Telangana VAT Act 2005 Gujarat Value Added Tax Act, 2003 Tamilnadu VAT ACT, 2006 Other Statutes The Indian Partnership Act, 1932 Societies Registration Act, 1860 Reserve Bank of India Act, 1934 Competition Act, 2002 Monopolies and Restrictive Trade Practices Act, 1969 Foreign Exchange Management Act, 1999 The Employees' State Insurance Act, 1948 The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 Profession Tax Act Right To Information Act, 2005 Equalisation Levy Act, 2016 The Insolvency And Bankruptcy Code, 2016 Maharashtra Real Estate Regulatory Authority and Rules THE REAL ESTATE (REGULATION AND DEVELOPMENT) ACT, 2016 GST Laws IGST Act , 2017 Central Goods and Services Tax Act, 2017 Union Territory Goods and Services Tax Act, 2017 GST (Compensation to States) Act, 2017 Rules Direct Tax Rules Income Tax Rules Wealth Tax Rules 1957 Income Declaration Scheme Rules 2016 Indirect Tax Rules Customs Valuation Rules Service Tax Rules Central Sales Tax (Delhi) Rules, 2005 Central Sales Tax (Maharashtra) Rules Entry Tax Rules Cenvat Credit Rules, 2017 GST Valuation Rules , 2016 Corporate Laws Rules Companies Rules, 2014 The Companies Unpaid Dividend Rules, 1978 Limited Liability Partnership Rules, 2009 LLP Winding up Rules, 2012 VAT Laws Rules Delhi Value Added Tax Rules, 2005 Maharashtra Value Added Tax Rules, 2005 Haryana Value Added Tax Rules, 2003 Andhra Pradesh Value Added Tax Rules, 2005 The West Bengal Value Added Tax Rules, 2005 The Uttar Pradesh Value Added Tax Rules, 2008 Punjab Value Added Tax Rules Rajasthan Value Added Tax Rules, 2006 Bihar Value Added Tax Rules, 2005 Karnataka Value Added Tax Rules, 2005 Telangna VAT Rules 2005 Gujarat Value Added Tax Rules, 2006 Tamilnadu VAT Rules, 2007 Other Statutes Baggage Rules, 2016 Profession Tax Rules NBFC Acceptance of Public Deposits (Reserve Bank) Directions, 1998 NBFC and Miscellaneous Non-Banking Companies (Advertisement) Rules, 1977 NBFC Auditor’s Report (Reserve Bank) Directions, 2008 Delhi Labour Welfare Fund Rules, 1997 Cost records and audit Rules, 2014 Equalisation Levy Rules, 2016 NCLT And NCLAT Rules The Insolvency and Bankruptcy of India Rules GST Rules Central Goods and Services Tax Rule, 2017 Forms Income Tax Forms Wealth Tax Forms ROC Forms (As per Companies Act, 1956) Companies Unpaid Dividend Forms Limited Liability Partnership (LLP) LLP Winding up Service Tax Forms NBFCs Forms FEMA Forms ROC Forms (As per Companies Act, 2013) Income Declaration Forms VAT Forms DVAT Forms MVAT Forms Bihar VAT Forms Karnataka VAT Forms UPVAT Forms Haryana VAT Forms WB Vat Forms Punjab VAT Forms Tamil Nadu VAT Forms CGST Forms GST Forms Accounts and Records Advance Ruling Appeals and Revision Assessment and Audit Composition Demands and Recovery Input Tax Credit Inspection, Search and Seizure Offences and Penalties Payment of Tax Refund Registration Returns Transitional Provisions Value of Supply News Query Careers Contact Us

PMO Seeks to Hasten Labour Reforms

Trade unions say the proposed reforms are pro-corporate and the govt is taking a unilateral approach towards it

Within days of Prime Minister Narendra Modi assuring business leaders that the government will create enabling environment for investment, the Prime Minister's Office (PMO) has asked the labour ministry to step on the reforms paddle. Officials of the labour ministry met those of the PMO on Friday , and then a day later they met the top brass of NITI Aayog, the government's policy think tank, to lay down the strategy for action. While the planned labour reform may bring cheer to industrialists and investors, it is unlikely to go down well with trade unions, which earlier this month went on a nationwide strike saying the measures will endanger jobs and make lay-offs easy .

A senior government official told ET that the labour ministry made an informal presentation to top offices of the government to convey the reforms undertaken by the ministry and the way for ward. “We are committed to labour reforms for economic growth of the country and would carry on the work initiated in the direction of labour reforms,“ the official said on condition of anonymity .Trade unions say the proposed reforms are pro-corporate and that the government is taking a unilateral approach towards it. Modi had assured trade unions at the recently held Indian Labour Conference that his government would pursue all reforms only through stakeholder consultations. The official quoted earlier said the government is determined to press ahead with reforms.

“Consensus and consultation are two different things. We will continue to consult all stakeholders on the reforms undertaken by the government, but we may or may not arrive at a consensus,“ the official said. After coming to power, the BJP-led NDA government has announced a slew of labour reforms, including codes on industrial relations and wages and mandatory minimum wages. The draft Small Factories Bill, Factories (amendment) Bill, Em ployees' Provident Fund (amendment) Bill and the Employees' State Insurance (amendment) Bill are some of the other key proposals in pipeline. Besides, the government is finalising social security measures for domestic workers and contract workers by making appointment through staffing firms mandatory, a move that will help to formalise India's huge proportion of the unorganised workforce.

Of the estimated 400 million workforce in the country , barely 7% are in the formal or organised sector. The rest constitute the unorganised workforce, which is often deprived of minimum wages and social security .

Industry is all in with the government over its labour reforms.“The whole approach of the government is very positive. They are moving ahead with consolidating all labour laws into four codes while keeping in mind the interest and welfare of the workers,“ a CII official said, adding that these reforms will help both the labour and the industry and would help in employment gen eration. Although the government has ramped up public investments through a series of initiatives to fuel economic growth over the last 15 months, the private sector has not yet shown willingness to take risks due to lack of demand and legal hurdles over land acquisition and labour reforms.

Hence last week Modi urged India's top industrialists to open up their purse strings to invest in the domestic economy and create jobs in the wake of opportunities thrown up by the global turmoil.The meeting was attended by at least 40 industry biggies including Reliance Industries chairman Mukesh Ambani, Tata Group chairman Cyrus Mistry , ITC chairman YC Deveshwar, and Aditya Birla Group chairman KM Birla, besides heads of three apex industry chambers, FICCI, CII and Assocham.

Labour's Love Not to be Lost

The government's push on labour reform is welcome. India operates in a rapidly globalising world. Therefore, the content of labour relations must undergo a big change. True, policy must internalise the dynamics of such globalised production.But the government should also ensure that the huge gains from growth are shared in an equitable way. Only then can industrial relations focus on raising productivity. Workers will also need to be assured that their welfare will be a priority in policy-making.

The Economic Times, New Delhi, 14th Sept. 2015

33828 Times Visited