pappu
09-23 01:32 AM
http://video.google.com/videoplay?docid=-1999333595666035699&hl=en
Voice of America coverage. (in Hindi)
Voice of America coverage. (in Hindi)
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akred
10-08 12:40 AM
Here's another article on the same issue: http://www.financialexpress.com/news/expats-will-have-to-make-pf-payments-in-india/358603/1
To sum it up:
Everyone working in India for any length of time will have to contribute 24% towards EPF. This contribution cannot be withdrawn or tranferred to another country unless a totalization agreement exists between that country and India. Previously non-resident Indians and foreigners were either not required to make this contribution or allowed to withdraw it upon leaving India.
My reading is that this has no impact on people who do not work in India. It will reduce net pay for citizens of countries without totalization agreements with India, specially because the EPF contribution in India applies to total gross pay without any upper limit.
To sum it up:
Everyone working in India for any length of time will have to contribute 24% towards EPF. This contribution cannot be withdrawn or tranferred to another country unless a totalization agreement exists between that country and India. Previously non-resident Indians and foreigners were either not required to make this contribution or allowed to withdraw it upon leaving India.
My reading is that this has no impact on people who do not work in India. It will reduce net pay for citizens of countries without totalization agreements with India, specially because the EPF contribution in India applies to total gross pay without any upper limit.
logiclife
07-11 12:32 PM
Then they have 2 choices:
1. They have to stay above the DOL's prevailing wage after all is considered. This can be done easily of they let go of their desire to make 40-60% profit margin. Many of them bill the guy at 40-50 dollars an hour(minimum) and then pay him 40-50K. That's 40% profit margin if he is paying benefits like health and vacation time. Cut down on that profit margin and then you can find ways to pay employees for full 12 months a year - on bench or productive - and still stay above the prevailing wages. And make up for loss of profit margin by increasing volume. Which means working harder, finding more capable and billable employees and treating them better for employee retention instead of other usual tactics(which I rather not mention here)
2. If they cannot do that then they should find something else to do where they can make profits without breaking the law.
1. They have to stay above the DOL's prevailing wage after all is considered. This can be done easily of they let go of their desire to make 40-60% profit margin. Many of them bill the guy at 40-50 dollars an hour(minimum) and then pay him 40-50K. That's 40% profit margin if he is paying benefits like health and vacation time. Cut down on that profit margin and then you can find ways to pay employees for full 12 months a year - on bench or productive - and still stay above the prevailing wages. And make up for loss of profit margin by increasing volume. Which means working harder, finding more capable and billable employees and treating them better for employee retention instead of other usual tactics(which I rather not mention here)
2. If they cannot do that then they should find something else to do where they can make profits without breaking the law.
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Hello_Hello
01-04 06:52 PM
This is how they could have replied. They should have started a 10 Rs. Education cess on every McDonald burger sold and every Pepsi/Coke bottle sold and every pizza sold by pizza hut & Dominos. This is barely anything, as it is only what we see on the surface, other big corporation like Walmart and several defense contractors are also operating freely and feeling home. Indian govt. should start taxing them..
America teaches Swadeshi when it comes to America & Videshi when in Videsh, it is hypocrisy..
America teaches Swadeshi when it comes to America & Videshi when in Videsh, it is hypocrisy..
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Mahatma
08-02 08:36 AM
I am in tennessee and would like to participate constructively. However, I will not hesitate to make my disagreements known.
JBarnhill
March 4th, 2010, 11:55 AM
Just saw how old this post was!! Sorry