Private companies in Karnataka must now partner with insurance firms and pay an annual premium towards gratuity obligations under the Karnataka Compulsory Gratuity Insurance Policy Rules, 2024. The regulation applies to companies with more than 10 employees and requires registration with the controlling authority under the Labour department. This regulation mandates compulsory insurance for gratuity payments as per the Payment of Gratuity Act, 1972.
The Karnataka government is facing pressure from industry associations to contest a recent High Court ruling on minimum wages. They fear that a substantial increase could adversely affect manufacturing and service industries. They argue that minimum wages in neighboring states are lower, and further hikes could erode competitiveness.
Mangaluru: Kanara Chamber of Commerce and Industry (KCCI) has elected Ananthesh V Prabhu as its new President. Prabhu is the Managing Partner of Aruna Industries, manufacturer of Aruna brand of food products.
Bandhis not a solution - Star of Mysore starofmysore.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from starofmysore.com Daily Mail and Mail on Sunday newspapers.
Karnataka Bandh: Pro-Kannada activists, protesting farmers arrested; state to endure Rs 4,000 Cr loss firstpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from firstpost.com Daily Mail and Mail on Sunday newspapers.