Severance pay is pay provided to employees after they’re removed from a position, or after employment is “severed.” Severance pay is generally provided in cases where an employee is let go from a position due to situations like downsizing or job elimination, rather than voluntary job termination on the part of the employee. Severance pay can be provided to employees all at once or over time.
The Ministry of Labour and Employment, Government of India has vide its notification bearing ref. no. G.S.R. 1048(E) dated 04 November, 2016 notified the Ease of Compliance to Maintain Registers under various Labour Law Rules, 2017 (“Rules”) for providing combined registers under various labour laws to facilitate ease of compliance, maintenance, inspection and for providing easy accessibility to the public through electronic means and thereby increasing transparency. The Rules have come into effect on 21 February 2017.
You don’t need to maintain many registers under the following Act, after the introduction of East of Compliance:
a) Building and Other Construction Workers’ (Regulation of Employment and Conditions of Service) Act, 1996;
b) The Contract Labour (Regulation and Abolition) Act, 1970;
c) The Equal Remuneration Act, 1976;
d) The Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1979;
e) The Mines Act, 1952
f) The Minimum Wages Act, 1948;
g) The Payment of Wages Act, 1936;
h) The Sales Promotion Employees (Conditions of Service) Act, 1976; and
i) The Working Journalists and Other Newspaper Employees (Conditions of Service) and Miscellaneous Provisions Act, 1955.