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Any type of agreement can be affected by an illegal contract. Serious illegality renders a contract null and void. Legal remedies may be unavailable to one or more of the contracting parties. However, just because a contract is illegal does not mean a court will deny a party or all parties any legal remedy. The court will also consider the steps taken when entering the contract to ensure that neither party engaged in illegal actions during the negotiation phase. What is an illegal contract? A contract is illegal if:-It is forbidden by law, It...

The gratuity act 2020, or the gratuity new rules 2020, is a law that came into effect on 1st April 2020. This act's amendment ensures that it complies with the new tax laws and other modifications to the Income Tax Act. The law aims to increase the minimum wage in India and provide specific benefits to existing employees. The new law has many provisions affecting your company's operations, and you need to be aware of them. What is gratuity, and why do companies need to pay it? Gratuity is a part of wages paid by employers to their employees as a rewar...

Businesses with 20 or more employees must, by law, register with the Employee's Provident Fund Organization, consistent with the Employees' Provident Funds and Miscellaneous Provisions Act of 1952. Employees must contribute 12 per cent of their base income to the Employee Provident Fund (EPF) plan. Employers provide every EPFO member with a twelve-digit number called a Universal Account Number (UAN), which makes it easier for workers to access and manage information about their EPF accounts. When workers switch employers, they'll have different Member I...