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The Employees State Insurance(ESI) Act enacted on 19th April 1948 is a parliament act passed to secure the employees throughout India socially. The legislation provides socio-economic security to employees and their dependents. The act got promulgated to envisage a need for the social insurance scheme to protect workers' interests in the country. It protects workers against unforeseeable circumstances like sickness, maternity, permanent physical disability, death due to injury caused during employment, resulting in loss of wages or earning capacity ei...

A partnership is a relation between people who agreed to share the profits and losses of a business carried by all of them. A partnership can also refer to establishing an agency among two or more individuals to run a business to share the profits. Per section 4 of the partnership act, 1932, a partnership is a relation between individuals who agree to share business profits carried on by all or anyone acting for all. The Indian partnership act governs and regulates the business of partnership firms in India. Characteristics of a Partnership Firm...

SEBI is a non-statutory body established under SEBI Act 1992 on 12th April 1988 and given statutory powers on 30th January 1992. SEBI is also known as the Securities and Exchange Board of India. The Objectives of SEBI are to act as a regulatory body that monitors the capital market and regulates its activities, keeping a check on companies and brokers' activities that violate the provisions of the SEBI Act, 1992. The role of SEBI is to ensure the protection of interests of the investors and aims to provide a safe and sound investment atmosphere for in...

India is facing a rise in unemployment rate similarly to any other developing country, and Covid-19 and lockdown worldwide boosted it. Companies or business houses finding it hard to survive in the market started firing their employees or reduced their wages up to 50% and kept it as it is even after lockdown and the market is rebounding. Here comes the role of the minimum wages act, 1948, which stipulates minimum wages in India for both skilled and unskilled labourers. The act ensures a basic income level that guarantees a minimum standard of living w...