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The Maternity Benefit is a payment made to a woman during or after birth.   There is a law called the "Maternity Benefits Act, 1961, which during a certain period regulates the female employment of women." The Act extends to all factories/establishments but does not extend to those factories/establishments to which the State Insurance Act of Employees applies.   Right / Eligibility for maternity benefit payments   In any establishment, every pregnant woman is eligible for maternity benefits at an average regular wage rate*, given that she has worked for a minimum of 80 days in the previous 12 months, i.e. 12 months before the scheduled delivery date.    Average daily wage rate means an average of the wages payable to the woman in the preceding 3 months prior to maternity leave or minimum wage rate set under the Maternity Act, 1948 or Rs. 10; the highest is whatever.   The maximum time during which a woman is entitled to a maternity allowance is 26 weeks, an...

Investment Allowance (Section 32AC) A deduction for investment in new plants and machinery is authorized under section 32AC. Apart from depreciation and further depreciation, this deduction is allowable.   It is an opportunity for the purchase and installation by a production business of new plants and machinery. This is an opportunity implemented in the 1961 Income Tax Act to encourage investment by manufacturing firms in modern and high-value plants and machinery. The acquisition and installation had to be carried out from 1 April 2013 until 31 March 2015. The clause has also been updated to include the deduction in the 2016-17 FY.   The deduction is an investment-linked deduction i.e. the deduction is allowed as a percentage to the investment amount.   15% of the total cost of the plant and equipment that a manufacturing company acquires and implements and the value of the investment must exceed Rs. For Yearse, one hundred Crores combined. 2013-14 FY and 2014-15 FY. Ho...

Meeting of the Board:   Pursuant to the provisions of Section 173 of the Companies Act, 2013   First meeting of the The first meeting of the Board of Directors should be held within 30 days of the date of incorporation of the Company. Subsequent meeting Minimum 4 Board meetings should be held within one year. There should be no gap of more than 120 days between two consecutive meetings of the Board. One-Person Company (OPC), Dormant Company and Small Company At least 1 meeting of the Board of Directors should be held in each half of the calendar year. The difference between the two meetings should not be less than 90 days.   Meeting of the shorter notice   If the meeting of the Board of Directors is required to be called in a shorter time than the following conditions must be met:   If the company is obliged to have an independent director, At least one independent director shall be present at the meeting. If the independent director is not present, the decision...