SEBI revises eligibility and shareholding limit for stock exchange desirous of operating in IFSC
Any Indian or foreign stock exchange may form a subsidiary to provide the services of the stock exchange in IFSC, wherein at least 51% of paid-up equity share capital is held by such exchange and remaining share capital may be offered to any other person (whether Indian or of foreign jurisdiction).
Government extends its EPF contribution of 24% for another three months
The Union Cabinet on 8th July 2020 has given its approval for extending the contribution both 12% employees’ share and 12% employers’ share under Employees Provident Fund, totaling 24% for another 3 months from June to August, 2020.
The government of Himachal Pradesh revises the applicability of the Contract Labour Act
The Contract Labour (Regulation and Abolition) Act shall be applicable in Himachal Pradesh only to establishment sin which thirty or more workmen are employed or were employed on any day of the preceding twelve months as contract labourers.
Government of Himachal Pradesh notifies Industrial Disputes (Himachal Pradesh Amendment) Ordinance, 2020
The Industrial Disputes (Himachal Pradesh Amendment) Ordinance, 2020 provides that No person employed in a non-public utility service shall go on strike in breach of contract without giving to the employer notice of strike, as herein-after provided, within six weeks before striking.
Government of Tamil Nadu permits IT companies to function with certain conditions
The Government has allowed IT and ITES companies located within the Greater Chennai Police jurisdiction other than containment zones, to function with 10 % of their total staff strength and the company shall provide transportation facilities for their staff.
The Maharashtra Value Added Tax ( Second Amendment) Rules, 2020
The Government of Maharashtra vide the Maharashtra Value Added Tax ( Second Amendment) Rules, 2020. The amendment provides for timeline extensions for returns.
The Factories (Himachal Pradesh Amendment) Ordinance, 2020
The Governor of Himachal Pradesh vide has amended the Factories Act as applicable to Himachal Pradesh. The amendment provides for compounding of offences under the act by first time offenders.
