Assam bill on retrenching up to 300 employees sans govt approval gets presidential assent

Posted on:15 Oct 2018 11:32:20
Assam bill on retrenching up to 300 employees sans govt approval gets presidential assent
15 October 2018 Current Affairs: President gave assent to Assam’s The Industrial Disputes (Assam Amendment) Bill, 2017.
According to this bill, companies are allowed to retrench up to 300 employees without seeking prior approval of the government.
It will replace the Industrial Disputes Act, 1947.
Under the new legislation, the compensation to a retrenched laborer will be 60 days’ salary instead of the present 15 days’ and no government permission will be required for the retrenchment.
President gave assent to Assam’s The Industrial Disputes (Assam Amendment) Bill, 2017.
According to this bill, companies are allowed to retrench up to 300 employees without seeking prior approval of the government.
It will replace the Industrial Disputes Act, 1947.
Under the new legislation, the compensation to a retrenched laborer will be 60 days’ salary instead of the present 15 days’ and no government permission will be required for the retrenchment.

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