Supreme Court (Photo: Wikipedia)

The Supreme Court on Tuesday held  government employees are entitled to annual increment even if  they retire a day after earning the financial benefit.
The significant verdict came on an appeal of the state government-owned Karnataka Power Transmission Corporation Ltd (KPTCL) challenging the judgement of a division bench of the Karnataka High Court that employees were entitled to annual increment even if they are to superannuate the very next day of earning the benefit.
A bench comprising Justices M R Shah and C T Ravikumar dismissed the appeal of KPTCL and said, Now so far as the submission on behalf of the appellants (KPTCL) that the annual increment is in the form of incentive and to encourage an employee to perform well and therefore, once he is not in service, there is no question of grant of annual increment is concerned, the aforesaid has no substance.
The court took note of the divergent views of various high courts and laid down the law on the legal question whether an ...

salary, jobs, pay, increment, employment, check, letter, interview, companies, wage, income

Average increments are likely to drop to 9.1 per cent this year in almost all sectors following inflation, higher interest rates and a slowdown in the economy, according to a study.
The average increment in 2022 was 9.4 per cent, Deloitte India Talent Outlook 2023 stated on Wednesday.
The study found that in 2023 increments are expected to be lower across almost all sectors, compared to 2022 actual increments.
While the Life Sciences sector is expected to witness the highest increments in 2023, the IT sector will likely witness a major drop in increments as compared to last year, the study said.
Additionally, attrition in India reached 19.7 per cent in 2022, up from 19.4 per cent in 2021, it stated.
"The significant attrition levels across industries in late 2021 continued until early 2022. We saw Indian organisations budgeting the highest increment in 2022 over the last four years. What they also did was hire aggressively. This led to employee costs rising faster than revenue gro

Flipkart

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The changes come at a time when the industry is seeing demand constraints from its majority market and budgets are under pressure and deals are taking time to close

Salary

E-commerce and tech start-ups, healthcare, and allied industries plan salary hikes of more than 10 per cent.

salary, jobs, employment, check, letter, interview, companies, wage, income

Early estimates peg the increase higher than 8% in 2021, 4.4% in 2020

office, workplace, jobs, employees, staff, worker,

The top three sectors with the highest salary increase projected for 2022 are technology, e-commerce, and IT-enabled services

With 10% salary hike, FY19 a good year for employees of listed firms

A study has shown that 59 per cent of companies in India are intending to give salary increments to their employees in 2021

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As many as 92 per cent companies that participated in the survey plan to give an increment in 2021 compared to only 60 per cent last year

corporate, company, firms, board, governnance

Only four in 10 companies ready for give staff a pay hike, says Deloitte Touche Tohmatsu India

Weak market, low salary budget to keep average increment flat at 9.7%: KPMG

Says e-commerce reported highest increment of 12.5% and logistics reported lowest at 8.1%

cashier counts rupee notes inside a bank in Mumbai

The benchmark for performance appraisal for promotion and financial upgradation has been enhanced to 'very good' from 'good' level

To scrutinise rationale for recast, structural details, plans for each unit

Anil Agarwal

Move comes a week after IHC sold its stake in Adani Green and Adani Transmission

Adani, Adani Group

The stock of the public sector bank (PSB) touched Rs 51, its highest level since March 2015, on improved operating performance

Indian Overseas Bank, IOB

A corporate presentation notes the "consistent shareholder returns" from more than $11 billion in dividends over the past decade

Vedanta

Stocks to Watch on Wednesday, October 4, 2023: Bajaj Finserv's insurance arm, Bajaj Allianz General Insurance has received a show cause notice alleging a tax demand of Rs 1,010.05 crore

image

India will hope for medals from the athletics field once again on October 02, 2023, which also be the ninth day of the Asian Games 2023 in Hangzhou, China

Asian Games 2023

DAM IF YOU DO, DAM IF YOU DON'T: The Cauvery water tussle isn't just a farm matter; it's also the lifeblood of two cities steering their state economies

Cauvery

Global headwinds may add to volatility in stocks

Stock market, NSE

Political parties and jaatis are re-evaluating caste politics in the wake of a generational shift in leadership

Uma Bharti

Not all 26-member INDIA parties are on board with the plan, but the prominent ones are

Oppn, Opposition parties

What the data suggests, however, is that India's numbers are unsustainable. They're driven by debt-fueled household consumption and government investment

Rupee, Indian Rupee, Indian currency

Indri whisky is the first Indian whisky to win this renowned award

whisky

Half of India's population between the age of 30-55 years believes 59 years should be the age of retirement and thirty-two years is when one should ideally start retirement planning,

investment,saving, money, retirement, rupee

The Confederation of All India Traders (CAIT) wrote to Amitabh Bachchan stating that his recent ad for Flipkart spreads misinformation and hurts local businesses

Amitabh Bachchan

Even if generative artificial intelligence has been overhyped, it's safe to assume that ChatGPT-type bots will only get better at routine tasks like writing computer software

jobs, IT jobs, IT industry, AI

The new suite, dubbed Magic Studio, marks the latest in a series of product launches in the past year, including enterprise-focused tools in September 2022 and AI software in March

AI, google, Artificial Intelligence

The bench highlighted that since the requests made by all involved parties were based on similar grounds, a fresh bench could determine the outcomes

Go First

Capital markets regulator Sebi on Wednesday said it has constituted Working Groups to recommend on simplification of various rules, ease of compliance, and reduction in the cost of compliance.
Also, the regulator has sought suggestions from public and regulated entities till November 6 towards simplifying the rules.
The move came following an announcement made in the Union Budget for FY 2023-24.
In a statement, the regulator said it has formed Working Groups to recommend simplification of various Sebi rules.
"The Working Groups will also look into the compliance requirements to enhance ease of compliance and reduction in the cost of compliance," the Securities and Exchange Board of India (Sebi) said.
At present, 16 Working Groups, under the aegis of its standing advisory committees, are reviewing compliance requirements under various Sebi rules applicable for entities, including listed companies, mutual funds, stock brokers, alternative investment funds, REITs (real estate investm

Illustration: ajay mohanty

Nationally, Manipal Hospitals boasts a capacity of 9,500 beds

manipal hospitals

TVS Emerald, a subsidiary of TVS Holdings Ltd, has registered a sale value of Rs 169 crore on the day of launch of its first plotted development project in Karnataka.
'The Estate' in Bagalur near Sarjapur, is a 33-acre project near Bengaluru, marking the Chennai-based company's first plotted development in the neighbouring state.
Of the 461 plots launched, as many as 442 plots were sold. The plots range from 500 sq ft to over 5,000 sq ft in size and priced from Rs 17.49 lakh, a company statement here said on Wednesday.
Besides this project, TVS Emerald said it has planned for more in Bengaluru, including an apartment community in Rachenahalli and a luxury project on the Mission road.
"The brand has a total of two million sq ft of area under development in Bengaluru," the statement said.
The plotted project, 'The Estate' features over 50 amenities including a 15,000 sq ft clubhouse, a banquet hall, swimming pool among many others.
Company Director and CEO Sriram Iyer said, "I am .

increment

Govt employees entitled to annual increment even they retire next day: SC

Average increments to drop to 9.1% in 2023 across sectors: Deloitte Report

Top headlines: FDI equity inflow contracts, no increment for Flipkart execs

TCS changes its hike structure, does away with anniversary hikes

Salary hikes at companies inching closer to pre-Covid levels: Report

Deloitte survey pegs average salary increment in India at 8.6% in 2022

Aon Survey projects 9.4% avg salary increment in 2022, up from 8.8% in 2021

Survey shows 59% firms in India intend to give salary increments in 2021

India Inc expected to dole out 7.3% average increment this year: Survey

More employees being rated poorly as firms cut back on increments: Survey

Weak market, low salary budget to keep average increment flat at 9.7%: KPMG

No annual increment for non-performing employees: Govt