Back Pay - Law Dictionary Search Results
Home Dictionary Name: back payback pay
back pay A type of damages award in an employment lawsuit that represents the amount of money the employee would have earned if the employee was not fired or denied a promotion illegally ...
Back pay award
Back pay award, means a judicial or quasi-judicial body's decision that an employee or ex-employee is entitled to accrued by uncollected wages or benefits, Black Law Dictionary, 7th Edn., p. 133....
Insurance
Insurance, see, Income-tax Act, 1961 (43 of 1961), s. 80C, Expl. 1.Insurance, the act of providing against a possible loss, by entering into a contract with one who is willing to give assurance, that is, to bind himself to make good such loss should it occur. In this contract, the chances of benefit are equal to the insured and the insurer. The first actually pays a certain sum, and the latter undertakes to pay a larger, if an accident should happen. The one renders his property secure; the other receives money with the probability that it is clear gain. The instrument by which the contract is made is called a policy; the stipulated consideration, a premium. As to what is known as a coupon policy, i.e., a coupon cut out of a diary, etc., see General Accident, etc., Assce. Corpn. v. Robertson, 1909 AC 404.Insurable Interest must be possessed by the person taking out a policy; he must be so circumstanced as to have benefit from the existence of the person or thing insured, and some preju...
back
back 1 : being overdue or in arrears [ rent] 2 : being retroactive esp. as compensation [reinstated with pay] ...
Drawback
Drawback, 'drawback' means the repayment of duties or taxes previously charged on commodities, from which they are relived on exportation, State of Uttar Pradesh v. Delhi Cloth Mills, (1991) 1 SCC 454 (468).The term used in commerce to signify the remitting or paying back upon the exportation of a commodity of the duties previously paid on it.A drawback is a device resorted to for enabling a commodity affected by taxes to be exported and sold in the foreign market on the same terms as if it had not been taxed at all. It differs from a bounty in this, that the latter enables a commodity to be sold for less than its natural costs, whereas a drawback enables it to be sold exactly at its natural cost. Were it not for the system of drawbacks it would be impossible, unless when a country enjoyed some very peculiar facilities of production, to export any commodity that was more heavily taxed at home than abroad. But the drawback obviates this difficulty, and enables merchants to export commod...
Basic wages
Basic wages, means all emoluments which are earned by an employee while on duty or on leave or on holidays with wages in either case in accordance with the terms of the contract of employment and which are paid or payable in cash to him, but does not include-(i) the cash value of any food concession; (ii) any dearness allowance (that is to say, all cash payments by whatever name called paid to an employee on account of a rise in the cost of living), house-rent allowance, overtime allowance, bonus commission or any other similar allowance payable to the employee in respect of his employment or of work done in such employment; (iii) any presents made by the employer. [Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), s. 2 (b)]The phrase 'basic wages' is ordinarily understood to mean that part of the price of labour, which the employer must pay to all workmen belonging to all categories. The phrase is used ordinarily in marked contra-distinction to 'dearness ...
Severance pay
Severance pay, means money (apart from back wages or salary) paid by an employer to a dismissed employee, Black's Law Dictionary, 7th Edn., p. 1379....
reimburse
reimburse -bursed -burs·ing 1 : to pay back (a sum lost or expended) to someone [will the court costs] 2 : to make restoration or payment of an equivalent to [ the employee for travel expenses] re·im·burse·ment n ...
Redisburse
To disburse anew to give or pay back...
Reimburse
To replace in a treasury or purse as an equivalent for what has been taken lost or expended to refund to pay back to restore as to reimburse the expenses of a war...
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