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• Retirement of one partner in a partnership firm of two amounts to dissolution of the firm: Supreme Court of India
• Reduction in statutory rate of contributions from 12% to 10% for salary months of May, June and July 2020
• Key Highlights of RBI Liquidity Support to Mutual Funds due to COVID-19
• Relaxation in adherence to prescribed timelines issued by SEBI due to COVID 19

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Case Laws pertaining to Lifting up of Corporate Veil Theory

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MSME package under Atmanirbhar Abhiyan / Self-reliant India movement

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Experts Exchange

Reduction in salary during insolvency

Posted by Arunav

Dear Sir(s),

The resolution professional has issued letter indicating reduction in salary of the employees.

My understanding is that since reduction in salary have adverse impact on calculation of gratuity and other benefits as such reduction may only be done after paying the previous accrued benefit and then starting afresh with the new terms of employment.

Kindly advise so that we may counter the resolution professional proposal.

Any judgment to support the contentions will be appreciated

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