UPDATE-2/04/08-- Ok readers fool's day is over... sorry to all those who believed this post... this was a april fool prank.. So no 15.5% increment no 25 days casual leave... (can't believe it,u thought this can be true).. Get back to work!!!
Finance minister P. Chidambaram has approved a Bill which comes into
effect on 01.04.2008 and it states that all Privately Held companies
need to give a minimum salary increment of 15.5% to all employees every
This comes as a relief to petitioners appealing against the growing work
hours in the Privately Held organizations and which do not have a proper
system to check overtime.
The bill also mentions that all employees be provided 25 days of casual
leave every year.
Please see the attached document for the list of companies which will be
brought under the umbrella of the Bill in the first round of