PD Sharma writes to PM about irrationality of undue largesse to labour force
Author(s): City Air NewsPD Sharma, President, Apex Chamber of Commerce & Industry (Punjab). Ludhiana, February 3, 2014: PD Sharma, president of Apex Chamber of Commerce & Industry (Punjab) has written a letter to Prime Minister with copy...
cityairnews
Feb 3, 2014 12:30
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PD Sharma, President, Apex Chamber of Commerce & Industry (Punjab).
Ludhiana, February 3, 2014: PD Sharma, president of Apex Chamber of Commerce & Industry (Punjab) has written a letter to Prime Minister with copy to all concerned about the irrationality of undue largesse to labour force at this time. The industrial growth is going down day after day and jobs are being shed by industry due to recession. Things have reached such an extent that a lay unemployed youth dares to slap a chief minister of state at a public function.
Ever since the phase of economic reforms started in the year 1991, there have been cries all around to reform outdated labour laws to suit today’s environment. Instead of doing this labour laws and provision under them are becoming more stringent and unbearable. Now it is being proposed to raise monthly wage ceiling for mandatory Provident Fund contribution from Rs. 6500 to 15000. Similarly salary ceiling for gratuity contribution is likely to be raised to Rs. 50000 per month.
It is also being proposed minimum guaranteed bonus to workers may be given even if the employer is making loss. It is also being proposed that the salary ceiling for Employees State Insurance benefits may be raised from Rs. 15000 to 25000 per month.
The future of Indian economy is in a very sensitive stage as in fact for all the emerging economies. One of the reasons for this is the tapering being undertaken by U.S.A. Central Bank.
All the parameters of economy are in danger zone but are being artificially propped.
Punjab has a highly labour intensive industry which is mainly in the MSME sector. The new proposals will take a high toll of Punjab’s Industry.
The labour scarcity arising mainly due to Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA Scheme) has triggered the wage hike abnormally. In such a situation the new proposals will hit the industry very badly.// ludhiana news online, ludhiana news in English, ludhiana news, ludhiana current news, ludhiana news live, Ludhiana breaking news, Ludhiana headlines, Ludhiana latest news, punjab news, india news, punjab news live, punjab news online, punjab news, punjab news headlines, punjab breaking news, india news, punjab news,
