1.  Industrial Employment (Standing Orders) Act 1946  – it requires things like work hours, dismissal process etc approved by govt. authority.
   
2.  Contract Labour (Regulation and Abolition) Act 1970 – It regulates employment terms of contract labour and ensures that they get the minimum dues.
   

Wage Regulation –

1. Payment of Wages Act 1936 – it states wages to be paid in money and not in kind among other provisions.
   
2.  Minimum Wages Act of 1948 – it has ensured minimum wages across various jobs across the state and central govt ranging from 130 INR to 1130 INR per day.
   
3. Payment of Gratuity Act 1972  – it mandates that at the time of retirement the company pays 15 days salary per year capped at 20 lakhs INR. Applies to an organisation with 10 or more workers.
   
4. Payment of Bonus Act 1965 – Minimum bonus is 8.33 % of salary. Applies to organisations with more than 20 employees.
   
5. Weekly Holidays Act 1942
   
6. Beedi and Cigar Workers Act 1967 
   
7.  Equal Remuneration Act of 1976 – It prescribes equal pay for Males and Females.
   

Health & Safety –

1. Workmen’s Compensation Act of 1923 – it mandates payments to bear medical expenses in case of injuries at the workplace.
   
2. Factories Act 1948 – safety laws to be observed in factories.
   
3. The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013
   
4. Child Labour (Prohibition and Abolition) Act 1986 – mandates the legal age for children at work – it is above 14 years of age in India.

Pensions and insurance-

1.  Employees’ Provident Fund and Miscellaneous Provisions Act 1952 – it takes approx 12 % of basic salary from the employer and the employee and puts in the EPF fund where an interest rate of 8.65 % approx is provided by the Govt.body.
   
2.  Employees’ State Insurance Act 1948. – It provides medical facility to employees of any org with a salary less than 21000 inr having more than 10 employees at a monthly premium of 1.75% of gross salary from the employee and 4.75% from the employer.
   
3.  Maternity Benefit Act 1961- It deals with granting maternity leave to female employees for a certain period of time.

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The following lists the types of or ways of getting a working capital loan in India –

1. Trade creditor – suppliers usually provide these type of loans by offering supplies at credit, at a premium if the case be.
2. Bank overdraft facility – Banks provide more money than already in the acc based on the credit rating of the acc holder.
3. Account receivable loan – this loan is obtained against confirmed sales order values of a business, based on credit rating of the applicant.
4. Factoring or advances – this is against some periodic payment that has been confirmed and will be received by the business.
5. Short term loans – usually for 6 to 12 months based on credit rating and relationship with the lender without requiring any collateral.
6. Equity funding – funding or investment that somebody puts in in return for interest or some other form of return. This loan is applicable when the credit history of the borrower is not good or below average.

Advantages of Working capital loan –

1. No collateral required.
2. Speed and flexibility
3. Funds at the discretion of the borrower

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