NEW DELHI, Feb 22: Corporate officials believe it would be beneficial for the economy if strikes are permitted with 6-week prior notice for industries related to public utility services, according to a survey on proposed Labour Law amendments.
A significant majority of corporate officials have supported the proposed revision of retrenchment compensation as well as restriction on strikes, the survey by Genius Consultants said.
The participant list comprises ITC Group, The Leela Palace, Balmer Lawrie, Larsen and Toubro, Reliance, Genpact, Accenture, Shapoorji Pallonji, Khadims, Indusind Bank, Ambuja Cements, Idea Cellular, Bata, HDFC Bank, Hindustan Aeronautics Ltd, and many others.
Around 72.86 per cent among the industry circles believe that “it will be beneficial for the economy if strikes become impermissible without serving 6 weeks prior notice for every industry which is currently for public utility services,” the survey said.
It further added that 68.57 per cent of respondents supported the revision of ‘Retrenchment Compensation’ and noted that an average salary of 45 days should be paid instead of current 15 days average for every completed year of service.
The participants also voted in favour of proposed relaxation in minimum entitlement of annual leave with wages and increase in quarterly overtime hours, it said.
“An integration of three statutes – the Trade Unions Act, 1926, Industrial Disputes Act, 1947 and Industrial Employment (Standing Orders) Act, 1946 – into a single code to govern industrial relations as referred under the proposed Bill has been found beneficial by 76.43 per cent of the industry,” Genius Consultants CMD R P Yadav said.
Moreover, a whopping majority at 94.29 per cent out of the industry believe that ‘Online Compliance Management and Monitoring System’ will simplify and remove the complexities of maintaining registers and records in hard copy.
The survey was conducted among corporate officials from various industries spread across 31 cities, four metros, tier I and tier II cities and satellite towns. (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel