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MAHA SHIVARATRI !!!




Maha Shivaratri is the most important festival for millions of devotees of Lord Shiva. The festival has been accorded a lot of significance in Hindu mythology. It is said that the sins of a devotee who observes the day with utmost sincerity and devotion is washed away and he attains moksha. Maha Shivaratri, which literally means the ‘The Great Night of Shiva’ is celebrated in the dark fortnight or Krishna Paksha on the 13th day or the 14th night of Phalguna or Maagha month (that is February or March as per the English calendar). Devotees worship and offer sacrifices to Shivalingam as part of their prayers to the god.



























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With a number of start-ups collapsing mid-way, many employees are now preferring bonuses instead of Employee Stock Option Plans (ESOPs) as part of their compensation package, industry experts said. “We have seen a change where the ESOP component in compensation packages has dropped in start-up companies. This is because they never reach the valuations they initially project and in the past year, a lot of start-ups also had to close businesses. “Since around the end of 2016, we have been witnessing a change from ESOPs to variable bonuses in terms of compensation in these companies,” Mr. Mohit Bharti, Director of professional recruitment consultancy Michael Page India said. This trend is seen across the start-up industry, including e-commerce, food, technology, logistics and financial services, Mr. Bharti added. Echoing a similar view, GlobalHunt Managing Director Mr. Sunil Goel said, with many start-ups collapsing gradually, employees started relying on cash component. “Bonuses are generally short-term component, paid either yearly or quarterly, and is becoming an attractive option even if it is one-third or one-fourth of the value as compared to the ESOPs,” he pointed out. But, Mr. Goel said, start-ups are now at a consolidation phase with lot of buyouts, mergers and acquisitions, so ESOPs might be more beneficial in the long run. TeamLease Services Senior Vice-President Mr. Kunal Sen opined that this has been the trend in the last 1-2 years with declining valuations of e-commerce and tech start-up performance. He said ESOPs will form a lower component in the compensation of top talent going forward, as earlier top talent would agree to a 30-50 per cent salary cut and opt for ESOPs, but not these days.

Source :  Thehindubusinessline.com


The Gujarat government announced hike in salaries of its fixed-pay employees in the range of 63-124% under the Seventh Pay Commission. Effective February 1, the move will benefit over 118,000 employees of various cadre and cost the state exchequer Rs 1,300 crore annually. Announcing the decision, deputy chief minister of Gujarat, Mr. Nitin Patel said, "The state government has decided to hike salaries of fixed-pay employees from February this year. There are 118,738 government employees working as fixed-pay employees in various departments of Gujarat." While class-1 and 2 employees' salaries will increase by 124%, class-3 employees will see a 90% rise, while class-4 will see 63%. The pay for employees in Rs 10,500 scale will be effectively revised upwards to Rs 16,224 a month. Similarly, the salary of those in Rs 11,500 per month scale will be hiked to Rs 19,950, while those in the scale of Rs 16,500 and Rs 17,500 a monthly move up to Rs 31,340 and Rs 38,090, respectively. Also, as against previous hikes that were applicable to employees with minimum five-year work record, the latest hike will embrace even recent inductees. Apart from the hike in basic pay, employees will get a 10% rise in medical allowances, conveyance and HRA benefits. Earlier, the Supreme Court had criticized the Gujarat government for not paying salaries to the fixed-pay employees according to the rules.

Source : Business-standard.com

HAPPY REPUBLIC DAY !!!



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