PAY DISPARITY
NRIs want Budget 2024 to ease 6 tax troubles: TDS on property sale, disparity in LTCG, dividend taxation and others
Under Indian tax laws, NRIs are taxable on their Indian-sourced income, such as capital gains, dividends, and interest. They are generally taxed similarly to residents but may face less beneficial rules in specific scenarios. The upcoming Budget 2024 may offer relief to NRIs in these areas.
Hinduja Family, UK's richest, facing charges for human trafficking, paying domestic staff less than spending on dog in Switzerland
Four members of the Hinduja family are facing charges in Switzerland over allegations of exploiting their domestic staff, including human trafficking and unfair treatment. The case highlights stark contrasts in treatment and expenditures on their staff and pet dog, sparking a broader conversation on domestic worker mistreatment in Geneva.
CEOs got hefty pay raises in 2023, widening the gap with the workers they oversee
Top paid female CEOs in 2023 include Lisa Su, Mary Barra, Jane Fraser, Kathy Warden, and Carol Tome. Lisa Su of Advanced Micro Devices led with USD30.3 million. Female CEO median pay rose 21% to USD17.6 million, outperforming male counterparts.
MSMEs should build support fund for women to encourage their participation: Lohit Bhatia, Indian Staffing Federation
MSMEs should work towards increasing female workforce participation by making structural changes to their ecosystem, says Lohit Bhatia, President, Indian Staffing Federation (ISF).
Rahul Gandhi once again bats for caste survey, economic review & to scrap 'Agniveer Scheme'
Rahul Gandhi advocates for a caste survey and economic evaluation to determine wealth distribution, promising compensation for youths and criticizing loan waivers for industrialists. He also discusses the Right to Apprenticeship scheme.
Pakistan struggles with soaring inflation and widening wage disparities
The government's decision to devalue the currency by over 50 per cent within a year and eliminate subsidies as part of the latest instalment of the International Monetary Fund bailout package has exacerbated the nation's cost-of-living crisis.
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'Elevate, rather than bringing the successful down', says Raghuram Rajan as he advocates inclusive growth over wealth tax
Raghuram Rajan, former RBI governor, advocates for inclusive growth over wealth tax, emphasizing the need to uplift individuals for economic development. His remarks follow a discussion sparked by Sam Pitroda on wealth redistribution, with Rajan cautioning against excessive taxation of the wealthy. He highlights the importance of examining neglected segments of the economy and suggests policy measures like minimum wage standards for wealth distribution. Rajan also stresses the significance of job creation for social stability and demographic dividends.
8th Pay Commission latest update: Govt gets a proposal on formation of next CPC; what central govt employees must know
8th Pay Commission latest update: In an Office Memorandum, the Ministry of Personnel, Public Grievances, and Pensions said, "The undersigned is directed to forward a copy of letter No. IRTSA/Memo-7 dated 26.02.2024 received from Shri R.V. Ramesh, General Secretary, Indian Railways Technical Supervisors’ Association on the subject mentioned above to the Department of Expenditure for further necessary action." Here's what the central government employees must know
Broadcasters seek tariff forbearance to help pay-TV compete with OTTs, others
Broadcast sector stakeholders are urging the Telecom Regulatory Authority of India (Trai) to implement complete tariff forbearance to enhance the competitiveness of the pay-TV industry against emerging and established platforms like over-the-top (OTT) and DD Free Dish. Trai recently held an open house discussion to address issues in the consultation paper 'Review of Regulatory Framework for Broadcasting and Cable Services’.
Here's how much money Cognizant CEO Ravi Kumar S got in 2023
Cognizant CEO Ravi Kumar S's $22.5 million compensation for 2023 has sparked debate amid the company's 0.3% revenue decline to $19.4 billion. His package includes one-time awards like performance stock units and a cash sign-on bonus. The CEO pay ratio compared to employees in India is 1647:1. Previous CEO Brian Humphries received $4.2 million in 2023. CFO Jatin Dalal's target direct compensation was $5.2 million. The disparity in compensation, coupled with financial performance, has raised stakeholder concerns.
In BFSI sector, 1 in 4 women feel inconsistency in workplace equity: Report
Efforts in BFSI for diversity and inclusion face challenges with recognition and pay disparities for women. Gen Z and Millennials show varying satisfaction levels. Fintech and insurance sectors experience declining sentiment. Great Place To Work, India, Serial Entrepreneur and CEO Yeshasvini Ramaswamy stresses the need to address disparities.
Olivia Coleman says she would have been paid more, if her name was Oliver
Colman's remarks come months after actress Taraji P Henson opened up about feeling stuck within the same low earning range despite having a successful career in the industry.
60% students choose job security over pay hikes: Unstop 2024 Talent Report
The Unstop 2024 Talent Report surveyed over 11,000 students, university partners, and HR professionals, revealing key insights about the job market in India. Among the findings, 60% of students prioritize job security over pay raises, with 53% expressing fear of not finding a job in their preferred field.
In the era of gender disparity, women still find it a challenge to ask for a pay raise
The gender gap in pay raises persists due to women's hesitation influenced by confidence disparities and unconscious gender stereotypes. Organizational culture, compensation philosophy, and market benchmarks play a crucial role. Women should keep records, conduct research, negotiate, and consider non-monetary incentives.
Fintechs top mutual fund distribution sweepstakes; IT sector’s slowest growth in a decade
Data showed that in November, 30 lakh new SIPs were generated by the entire industry. Industry estimates said that around 42% of these SIPs were issued through fintechs like Groww, Paytm Money, AngelOne and others.
‘The Math Ain’t Mathing’: Taraji P. Henson talks about Hollywood pay disparity
Addressing the financial complexities actors face, Henson pointed out the significant deductions from their earnings. She highlighted the impact of taxes and the percentages taken by agents, managers, lawyers, and other team members, leaving actors with a fraction of their reported income.
How to handle financial disparity with your siblings
Is it really necessary to be lenders and borrowers within the family? Given the widespread availability of personal loans and credit cards, informal loans may no longer be needed. If you must cede a request for money, give an amount you won’t care about losing. If that is not possible, lend without interest.
Gender pay gap widens as women go up the tech ladder
Aon’s latest estimates shared exclusively with ET showed that the unadjusted gender pay gap in the technology sector in 2023 is in the range of 28-30%, while for junior management, it is 8-10%.
Women's day off: Massive women's strike in Iceland targets gender pay gap and violence
Tens of thousands of women and non-binary individuals in Iceland, including Prime Minister Katrin Jakobsdóttir, are organizing a historic strike to highlight the country's gender wage gap and prevalent gender-based and sexual violence. Despite Iceland's reputation as a global leader in gender equality, women still earn 21% less than men in certain professions and over 40% have encountered gender-based or sexual violence.
Mind the gap: Median female salaries at Nifty50 companies lag males' by a tenth
ET analysed the median salaries for male and female employees disclosed by Nifty50 constituent companies. Of the 50 companies, 43 disclosed this data in their FY23 annual reports. The median male salaries were higher than median female salaries in 31 of these companies. The median female salaries were, on average, 9.2% lower than the median male salaries.
The U-shaped link between an Indian wife's job and her husband's salary
A recent analysis of the Periodic Labour Force Survey in India challenges the traditional gender norm of the "male breadwinner." The study found that in households where the husband's earnings are high, the probability of the wife being employed is low. However, in urban areas, there is a reversal beyond a certain income level, with an increased likelihood of wives being employed The gender pay gap in India has narrowed, with women now earning 76% of their male counterparts.
Slowdown & Covid hit labour market but pay gap narrowing: Azim Premji University report
According to the ‘State of Working India 2023’ report, gender-based earnings disparities have narrowed in India since 2017 with salaried women workers now earning 76% of what their male counterparts earn, up from 70% in 2004.
Get ready to pay higher prices for Onions. Here's why
Over 500 traders in Nashik district, responsible for procuring onions from all 15 Agricultural Produce Market Committees (APMCs), have initiated an indefinite strike. This strike will significantly affect onion supply across the country. The traders are protesting against the lower prices offered by two central government agencies, Nafed and NCCF, which procure onions from farmers in Nashik and distribute them at lower rates compared to what traders offer.
Apple pricing should get normalised, entire ecosystem brought into India: Amit Jaju
"As the supply chain is established in India, prices will normalize. Absence of services like Apple Pay is lacking in India compared to competitors like Samsung. While the camera is a standout feature, users are more interested in the processing and AI capabilities rather than just the hardware. Apple's lack of add-on storage may require users to upgrade their storage capacity."
CEO-worker pay gap keeps widening
Amara Raja Batteries has topped the list of Indian Nifty 500 companies with the widest gap between CEO and median employee salaries, paying its CMD over ₹52 cr, 1,872 times the median employee salary. Small and mid-cap promoter-driven companies, such as Amber Enterprises and JK Paper and Balkrishna Ind, were also featured. The CEO pay hike across some firms was higher than that seen in employee remuneration.
68% of Indian freelancers rely on social media for work: Report
India's freelancing industry is growing with demand increasing. According to the fifth edition of the Payoneer Freelancer Insights Report, 46% of respondents saw an increase, with demand coming mainly from younger freelancers in India. However, finding new clients was the main challenge reported by 73% of Indian freelancers. Although 68% relied on social media to find work, competition is increasing with 69% reporting an increase.
Job satisfaction drops as gender imbalance grows: Skillsoft’s 2023 Women in Tech Report
The 2023 Women in Tech Report by Skillsoft finds that women in technology jobs are increasingly dissatisfied with their jobs, posing a risk for retention. Just 28% of female technologists report being extremely satisfied with their jobs compared to 44% the previous year. Top areas of dissatisfaction were growth potential, current pay, and managerial support. Nearly 40% of women in tech are considering switching job roles, highlighting a growing gender imbalance.
It pays to fix gender wage disparity
Some of these factors are addressed by the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) scheme that acted as a ballast during the pandemic's reverse migration. Enhanced budgetary allocation to the scheme since 2020 absorbed some shock of the steep fall in women's employment.
Amy Wang will pen the script of 'Crazy Rich Asians 2' after the exit of original writers over pay disparity
Writers Adele Lim & Peter Chiarelli were involved in a pay disparity controversy in 2018.
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