Category: Business

Main wage legislations for protecting the rights of wage earners are given below:The government has enacted legislative measures to protect the wage earners’ rights and to emphasise managerial obligations in this regard. The basic foundation of industrial legislation is to ensure social justice. ADVERTISEMENTS: According to V.V. Giri, the basic foundation of industrial legislation is to ensure – “equitable distribution of profits and benefits accruing from industry between industrialists and workers and affording protection to the workers against harmful effects to their health, safety and morality”.Thus, the protection of labour in industry is the motive force behind labour legislation. Legislation only sets the minimum rates and obligations on the part of the employer. Image Source: mediad.publicbroadcasting.netNothing prevents more liberal terms being negotiated through collective bargaining processes.1. The Payment of Wages…

It is a bit difficult to give a precise definition of the work ‘audit’ in a word or two. Originally, its meaning and use were confined merely to a cash audit, i.e., an auditor had to ascertain whether the person responsible for the maintenance of accounts had properly accounted for all the cash receipts and payments on behalf of his principal. But the word ‘audit’ has a wide usage and it now means a thorough scrutiny of the books of accounts and its ultimate aim is to verify the financial position disclosed by the Balance Sheet and the Profit and Loss Account of a company. The following are some of the definitions of audit given by some writers: ADVERTISEMENTS: (1) Spicer and Pegler: “An audit may be said to be…