Learning Point

  🧾 Employees’ Old-Age Benefits Act, 1976 – Part II For Business, HR & Law Students 9.1 Employees’ Old-Age Benefits Institution (EOBI), Certificate of Registration, Proof of Age, Contribution Payment & Employer Liability ✅ Employees’ Old-Age Benefits Institution (EOBI) Definition : A government institution created to manage and administer retirement benefits for employees of industrial and commercial organizations. Functions : Collecting contributions Maintaining insured persons’ data Disbursing pensions and grants Managing the EOBI fund Example : EOBI manages pension disbursements to over 400,000 pensioners in Pakistan. ✅ Certificate of Registration Every employer must register with EOBI. Upon registration, the institution issues a Certificate of Registration to the business. It includes business details and employer number. Importance : Proof of compliance with the EOBI law. ✅ Proof of Age Required ...

  🧾 Employees’ Old-Age Benefits Act, 1976 – Part I For Business & HRM Students Purpose : To provide financial security to employees in old age, retirement, disability, or upon death through pensions and benefits. 8.1 Employees’ Old-Age Benefits Contribution Rules, 1978 Definition: These rules govern the payment, collection, and management of contributions made by employers and employees to the EOBI fund. Key Features: Employer contributes 5% of minimum wage Employee contributes 1% of minimum wage Payments are made monthly to EOBI fund Example: If minimum wage is Rs. 32,000/month, employer contributes Rs. 1,600, and employee contributes Rs. 320. Business Advantage: Enhances employee retention Demonstrates corporate social responsibility 8.2 Employees’ Old-Age Benefits Types of Benefits: Old-Age Pension (on retirement at 60 years for men, 55 for women) Invalidity Pension (due to permanent disability) Survivor’s ...

  🏢 Laws Governing Industrial Employment and Industrial Relations (Based on Industrial Relations Act, Trade Unions Act, and Wage Commission Regulations – Pakistan) 7.1 Trade Unions and Freedom of Associations Definition: A trade union is an organized association of workers formed to protect and promote their rights through collective bargaining. Freedom of Association: Every worker has the right to: Form or join a trade union Participate in its lawful activities Not be discriminated against for union involvement Example: Workers at a textile factory form a union to demand fair wages. Business Advantage: Encourages structured negotiation Reduces risk of spontaneous strikes 7.2 Application for Registration and Requirements Requirements: At least 10% or 100 workers (whichever is less) Constitution with clear rules Name, address, and list of members Registration fee Example: A factory union submits applicatio...

  🏭 Laws Governing Establishment of Factories (Factories Act, 1934 – Pakistan) Lecture Notes for Business Students 6.1 Definitions Pertained to the Factories Act, 1934 Factory : A premises where 10 or more workers are working with power or 20 or more without power, involved in manufacturing. Worker : A person employed in a factory, directly or through an agency, for wages. Occupier : A person who has ultimate control over the affairs of the factory. Manufacturing Process : Includes making, altering, repairing, finishing, etc. Example : A textile unit employing 30 workers is a "factory". 6.2 Exemption from Certain Provisions of the Act The government may exempt: Seasonal factories (e.g., sugar mills) Small-scale or emergency-run factories Purpose : Flexibility in rules for special scenarios 6.3 Inspectors and their Powers Inspectors are appointed to: Enter, inspect and examine any factory Inquire i...