Business & Employment Law

Fire insurance is a contract in which the insurer agrees, in exchange for a payment (premium), to compensate the insured for any financial loss caused by fire to property or goods during a specific period. The parties to the contract agree on a maximum amount (written in the contract) the insured can claim in a loss. The insurance company has to pay back the actual amount of the loss set by the policy. A fire insurance policy can not be given to someone else without the insurer's permission because the insured must have an insurable interest in the pro...

Entrepreneurs frequently struggle to decide which type of business will work best for them when launching a new company. Which is better? Which will offer the ideal conditions for their firm to succeed? These questions are typical for understanding the different forms of the company. One must know the services and differences between LLP and Pvt ltd. When it comes to LLP vs Private Limited companies, they both offer limited liability to their partners and members and are distinct legal entities. What is a Limited Liability Partnership (LLP)? A limited ...

Arbitration is one of the oldest ways to settle a dispute besides going to court. We can trace the roots of arbitration back to the village panchayats in India, which have been around for a long time. People believed that the Panchas, when they met as a group as the Panchayat, was the voice of God, and their decisions had to be accepted and followed without question. Alternative Dispute Resolution is a way to settle civil disputes without involving the court. These are ways to resolve disagreements on a large scale. Arbitration and conciliation are the ...

Most companies in today's competitive marketplace are either unable to afford or do not want to deal with the time, expense, and detrimental impacts of traditional litigation on their operations. Unfortunately, there is a chance of conflict over business procedures or contractual duties in any business connection. When such issues arise, there is no need to subject oneself to exorbitant fees and delays connected with traditional litigation. Alternative dispute resolution procedures are readily available and can help resolve conflicts quickly, equitably,...

The people made the Constitution of India to maintain social, economic, and political justice. When it comes to justice, economic justice is the most important. For a democracy to be factual, it needs both equality and justice. Because of this, it not only makes sure that everyone has the same status and opportunities but also gets rid of all kinds of differences in wealth and opportunities. Economic justice means that individuals will have no partiality about how much they are worth. It means equal pay for equal work, and everyone should get what is fa...

Industrial disputes arise due to disagreements between employers and workers. Industrial relations involve various aspects of relations between the employer and the workers. In similar relation, a clash of interests may result in dissatisfaction, leading to industrial controversies or conflicts. These controversies may take various forms like demurrers, strikes, demonstrations, cinch-outs, retrenchment, redundancy of workers, etc. An Industrial Tribunal is a legal authority that arbitrates to agree obligatory on both the employer and the worker. The In...

India is where the industrial sector has played a significant role in its economic growth. The industrial sector contributes a large percentage of the GDP and employs millions of people. Every worker must know about these laws to protect their rights. Industrial law is the body of laws governing relations between employers and employees in both public and private sectors. It also covers industrial disputes, unfair dismissal, occupational health and safety, trade unions, etc. Industrial law originated from the English law concept of "industrial remedy" ...

Early European employers in India gave "bakhshish," or a gift, to their workers on holidays like "Diwali." They probably did this because they were happy with their high profits. Bonuses are a way for employers to encourage their workers to do their best job. The employees have a legal right to be part of the surplus employers use to pay bonuses. The employer should distribute this part among all workers based on their wages, without considering the dearness allowance or any other allowance. Bonuses motivate employees to work at their most incredible c...

Bonuses are payments given to employees in addition to their base salaries, the additional pay or compensation an employee receives over their usual salary. The company can award bonuses to entry-level employees and senior-level executives. Besides giving bonuses to prospective employees, companies can distribute them to shareholders. What is bonus pay? An employee gets compensation in addition to their base salary. Bonus Pay is a way for companies to show appreciation to employees or teams that have reached crucial goals. The companies give bonuses t...

MSME refers to Micro, Small, and Medium Enterprises and is an essential part of the economy in a developing country like India. These industries are also called SSIs or small-scale industries. MSME registration makes it easier for these businesses to avail benefits that the government gives to MSMEs. As per the MSME Act, a company can acquire MSME registration irrespective of whether it is in the manufacturing or service industry. The Government of India has not made MSME registration mandatory yet. However, getting your business registered under this g...