The government current expenditure expanded without appreciable increase in revenue leading to widening fiscal deficit, which were largely financed with bank credit with averse effects on the general price level.
Employee Wages and Benefits Concept The principle of non-diminution of benefits states that: Other benefits are offered by the employer as an incentive to attract and retain employees as well as increase employee morale and improve job performance.
Common application In employment setting, the principle of non-diminution of benefits finds application when a change initiated by the employer to existing company policies, specially matters concerning employee benefits, results in reduction, diminution or withdrawal of some or all of the the benefits already enjoyed by the employees.
For example, if the employees of a certain company is traditionally granted 14th month pay, and the employer subsequently withdrew such benefit, or reduced its amount, the reduction or withdrawal is objectionable on the ground that it would result to diminution of benefits.
Requirements The application of the principle presupposes that a company practice, policy and tradition favorable to the employees has been clearly established; and that the payments made by the company pursuant to it have ripened into benefits enjoyed by them. It should have been practiced over a long period of time; and It must be shown to have been consistent and deliberate.
In Tiangco vs LeogardoJr. L, May 16,the employer carried on the practice of giving a fixed monthly emergency allowance from November to Februaryor three years and four months. In the case of Sevilla Trading Company vs Semanaibid.
In all these cases, the grant of benefits has been held to have ripened into company practice or policy which cannot be peremptorily withdrawn. Definition, Synonyms from Answers. Friday, August 19, Caveat: Subsequent court and administrative rulings, or changes to, or repeal of, laws, rules and regulations may have rendered the whole or part of this article inaccurate or obsolete.3 days ago · Consumers are drawn to their comfort and performance and they’re asking for more style options.
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