Page 247 - DCOM207_LABOUR_LAWS

Labour Laws

Notes 14. Section 9 stipulates that an aggrieved employee can file an application to the controlling
authority for recovery of the amount of gratuity.
15. The employee and’ the employer or any other person raising the dispute regarding the
amount of gratuity may make an application to the controlling authority to decide the
dispute.

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Case Study Marc Amaranth

oday is 18th October 2008. Marc Amaranth, aged 38 years, life expectancy 70 years,
is semi-literate. His father ran a grocery shop in which Amaranth helped him from
This teen age. As Amaranth grew up, he explored various business opportunities
with the help of his two young brothers Marc Sumer and Marc Shalem. Today, Amaranth
is an established businessman in Mumbai. He is running two Guest Houses and two
Restaurants in Mumbai; and operating a fleet of 20 taxies. Additionally, he has three shops
which he has rented on profit sharing basis. The details of his family members are:

His father Sylvester Kedhar takes care of his both the restaurants while his both brothers
Sumer and Shalem look after his Guest Houses and Taxi Fleet. Legal ownership of all
properties/investments is with Amaranth and his wife. His father and brothers do not
have any legal rights in his business and properties. Amaranth’s brother Sumer is engaged
and his marriage is fixed after 6 months from now. Ameya’s marriage is tentatively after
one year from Sumer’s marriage and Shalem’s marriage is tentatively after one year from
Ameya’s marriage. Hearing from one of his tenants, he has contacted you, a practicing
Certified Financial Planner for creating and implementing a Financial Plan for him. He has
submitted the following information to you:
Sources of Income
1. Daily Rental Income from his Guest Houses
2. Daily collection from his taxies fleet

3. Daily collection from his restaurants
4. Monthly rent and profit share from his shops
5. Interest from the private money lending business
Expenditures per Month

1. Household expenses: ` 58,000
2. Personal expenses: ` 15,000 Contd...

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