As Cyclone Vayu breezes in, stay safe Office-Goers!

Dear Office goers ,

Please be prepared for the rains. Request you to consider the suggestions:

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  • Finish your meetings before evening and avoid scheduling any meetings for the day!
  • If you take public transport , such as local trains, please avoid the high volume stations. Next station is barely few kilometers away. Better take an auto rickshaw or a cab to cover the distance.
  • Work from closer work spaces tomorrow, just in case there are any backlash of the rain.
  • Care for other’s safety as you travel. If each one of us cared for the next person, we all would reach home safe.
  • Umbrellas, raincoats and extra food, just in case you need to share.
  • Avoid traveling at any cost if the water starts clogging. Being stuck on the road is very dangerous. Stay back at office or any other safe place.
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  • Keep the numbers to the traffic control room and police help desks just in case anyone needs it.
  • Keep your mobiles charged and power banks ready.
  • Share the good vibes and keep panic at bay! Most of the tough times pass when we face it in good humour and with a smile.

We are all in this together! Let’s stay safe and be happy !!

Cyclone Vayu breezes in #CycloneVayu

 

Gig Economy and HR Compliance

Gig Economy is on the rise with IT skills requiring professionals to work on project for shorter duration.  As reported by Livemint, the IT flexi staffing market in India, worth $3.04 billion in 2016-17, is expected to grow 14-16% annually to become a $5.3 billion industry by 2021, [Source: Indian Staffing Federation Report].

Most of the skills that are turning into jobs were not grouped as a job so far.  Tenured jobs are giving way to gigs.

As experts to the HR Compliance and Audit how would you manage this for an employer? The emerging skill groups do not have a clarity in terms of jobs. They are mostly work-based than designation or even salary-band based roles! Hence, which are the areas critical to Compliance that an employer must care for while hiring the Flexi-Employee?

Would the retirals be managed by the employee? If so, how ? How would the benefits be managed?

Join the discussion in here: Comply4HR

Deferred payment at Voonik: HR Compliance

Voonik , an online fashion brand has deferred the payments for its 200 employees by 3 months. As reported by Money Control, Voonik’s CEO and Co-Founder Sujayath Ali said those who will quit the company will get a month’s salary as the severance package. He added the company “is currently one or two months away from EBITDA (earnings before, interest, tax, depreciation, and amortisation) profitability.

Subir Chatterjee, Compensation and Benefit Head says, ” Help me to understand this better. The founder deferred the salary to achieve EBIT? So far I know salary is part of operating expenses, don’t they have to book the salary as future liability? Operating Earning comes much before EBIT.”

Pratik Vaidya, MD Karma Management added, “Very few organisation understand the value of human capital & asset rather than treating as Operating expense. Audited Companies that defer salary and other incentive payables & sheepishly roll back in future when their employee leave”.

Subeer Bakshi, CHRO Bajaj Allianz reflects, “Agree that it’s going to be problematic, but it’s a well-intentioned alternative to lay-offs. That’s laudable, and I hope the employees buy in!”

What impact would this have on HR compliances to be maintained in the company. How would the EPF contribution, ESIC if any, other Retirals and tax deduction be managed by the employer in such a situation?

join us for more on this => Comply4HR