Worldwide: Employee Benefits & Compensation

The Ministry of Labour and Employment has notified the Industrial Relations (Central) Rules, 2026, establishing a comprehensive procedural framework to operationalise the Industrial Relations Code, 2020. These rules introduce transformative mechanisms including negotiating unions, fixed-term employment, mandatory grievance redressal committees, and digital compliance systems.

The South Korean Supreme Court has issued two contrasting rulings on whether employee performance bonuses constitute "wages" under the Labour Standards Act, establishing a three-part test that examines the link between payment and labour provision, the employer's obligation to pay, and the regularity of payments. These decisions demonstrate that classification depends on the specific design and operation of each bonus scheme, with significant implications for calculating severance pay, overtime, and other s

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