Our country is rich in human resources. Foreign Direct Investment is principally coming for cheap and economic labour to compete the cost of product, internationally.
Unfortunately, white collared in private industries (who are not covered by the Industrial Disputes Act, 1947) are not having specific act to their relief unlike employment laws.
The workmen may invoke the jurisdiction of the Industrial Disputes Act, 1947, the government employees can invoke the jurisdiction of Central Administrative Tribunal and the banks and corporation employees which are autonomous bodies can invoke the writ petition U/A 226. Surprisingly, nobody has taken care of the officers of the private companies who does not fall under the Industrial Disputes Act, 1947 and also cannot invoke jurisdiction of any of the above specific laws, acts can be shunted out anytime, anywhere. They can only invoke the jurisdiction of a civil court for breach of contract under civil law.
Why this has not been taken care of?
It is a negative impact on the economy of the country. As, therefore the officers of the private company keep on jumping from one organization to another organization, sometimes for meager amount of salary rise which they get only from money, consequently the company loses a trained and expert person who was well fitted in their culture and working conditions. These employees have to again get adjusted and learn the work culture for their better fitment and productivity from the beginning in the new company and visa-versa. This places a great impact on the growth of industry and country’s economy.
The government should enact specific acts and relief for private company officers also to give them protection and job security.