A question was asked in Raja Sabha about the central institution to enforce the provisions of the Act “The Prize Chits and Money Circulation Schemes (Banning) Act, 1978” all over India under central government.
To this Minister of State for Corporate Affairs Shri R.P.N. Singh in reply to a written question in the Rajya Sabha on 13-August, 2012 said that there is no proposal to set up a central institution to enforce the provisions of the Act. (more…)
While there is no guarantee of a NETWORK MARKETING business’s survival, the AITUC desire these companies to offer PF, gratuity and other advantages to their workers
New Delhi: Many staff members of multi-level advertising firms organized a protest in the capital requiring enactment of a Central law which would determine and guard the interests of the real companies and workers working in the market, states PTI.
The laborers under the aegis of the All India Trade Union Congress (AITUC) marched from Barakhamba to Jantar Mantar where they sat on a dharna.
Dealing with the protesters, senior CPI leader Gurudas Dasgupta stated, “There are more than 20 lakh staff members working in the multi-level advertising industry and their number is bound to expand due to market competitors.”
“Nonetheless, the current working conditions that are supplied to them by MNCs are very unsatisfactory. Income of multi-level advertising officials is incredibly questionable, where they have no security or social security.
“We will battle to get advantages like provident fund, maternity advantage for the marketing people by the business,” he added.
AITUC National Secretary Amarjeet Kaur alleged the high – power seven member inter-ministerial committee established by the Ministry of Customer Affairs with nominees from numerous ministries and the RBI does not have any type of staff member representation.
“This lacuna will genuinely impact the quality of the fact finding report which will recommend and finally be submitted to the government by 31st August. Therefore, we do hope that the government will take proper actions to speak to all stakeholders,” she stated.
If sources are to be believed, soon there will be an MLM law in India. The Ministry of Corporate Affairs (MCA) and Reserve Bank of India (RBI) are working closely to frame rules for all MLM companies in India. As per sources there will be strict norms for MLM companies and all MLM companies who are operating in India will have to get their firm register with the government. (more…)