Re: Understanding Economics Quote:
Originally Posted by dragracer567 I'm curious about another fact claimed in the video. It is claimed that most businesses in India don't expand to more than 9 workers since having 10 workers or more would expose them to arcane labor laws. I'm hearing for the first time though, is this outdated information? |
No, it is not outdated. The moment you reach 10 employees, you have to provide EPF, ESI, Gratuity and implement POSH act. I won't call them arcane labor laws, but they are pro-employee laws. It will increase the paperwork, and doesn't let employers fly under the radar.
Most minimum wage employees don't like EPF because it takes a big bite out of their paycheck. I remember one young employee who wanted his salary offer told in net and not gross. He didn't want to know about taxes or other deductions.
Last edited by Samurai : 26th November 2023 at 13:06.
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