Transcription of NEPAL LABOR ACT 2074
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NEPAL LABOR ACT 2074
NEPAL LABOR ACT 2074 Highlights of Changes brought by New LABOR LawPublished by:NBSM & Associates | Chartered AccountantsKathmandu, | Changes in the NEPAL LABOR Law 2074 (2017) Page 2 Table of ContentIntroduction3 Applicability4 Foreign Nationals6 Leave and Holidays10 Benefits11 Penal Provisions13 Retirement 18 Sanctions19 Non Applicability23(An Independent Firm, in association with Moore Stephens International Limited,Members in principal cities throughout the world)AuditIAdvisoryITaxationNBSM | Changes in the NEPAL LABOR Law 2074 (2017) Page 3 INTRODUCTION TheLaborAct,2074hasreceivedtheassentofpr esidentandbecomeeffectivefromthedateBhad ra19, , , ,interest, (1) :NBSM | Changes in the NEPAL LABOR Law 2074 (2017) Page 4NO OF WORKERS FOR THE APPLICABILITY OF LABOUR ACTLABORACT, 2048 LABOR ACT, 2074 LABOR Act, 2048 was applicableonly to the entity where 10 or more employees or workers were engaged in the Act, 2074 is applicableto all entities regardless of number of | Changes in the NEPAL LABOR Law 2074 (2017) Page 5 Sect 10 of the New LABOR act has provided the flexibility in the modes of hiring as per the requirements of the Employment2.
amount of Gratuity as per the new act. – Rate : 8.33% of basic remuneration every month – Eligible from the first day of employment. – Amount to be deposited to Social security Fund. Leave Encashment Section:49 – Accumulated annual leave up to 60 days can be encashedat the time of discontinuation of service.
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