Reasons for Recession in Any Indian Industry and how to retain the skilled labour/ employees
Presentation for – employer employee policy, keyman, HUF, MWPA, partnership policy (business insurance)
Brief understanding –
Reasons for Recession in Indian Industry.
Problems faced are non availability or shortage of skilled labour or employees or personnels. In case the gap is met, another problem arises how to retain them.
They frequently hop jobs looking for better opportunities or for reasons best known to them.
Once After the employer has invested time, money and infrastructure in training and skill development of the personnels, leaving the job or employment by these personnels harms the small industries and medium scale enterprises in an untimely unrecoverable manner. This leads to losses to organisations.
To retain them, employer should bind them in time bound direct or indirect incentives.
To achieve this, to overcome the recession problem, and to recover the losses, employer or organisation should opt for business insurance like employer employee policy, keyman policy, married woman protection act policy, HUF etc from the capital
This capital can be shown as expenses in sec 37 ( 1 ) in next yr balance sheet.
This capital is used as tax deferment tool
And instead of paying heavy amount of taxes to govt, organisations can secure their employees future thereby securing their own future