Business law and labour law in Nepal

Business law

Business law is the body of laws that regulates the formation, operation and closing of business and commercial dealings. Main laws in Nepal:

• Companies Act 2063: formation, management and winding up of private, public and other companies.
• Partnership Act 2020, Industrial Enterprises Act 2076, Foreign Investment and Technology Transfer Act 2075.
• Muluki Civil Code 2074 (contracts, sale, agency, etc.), Negotiable Instruments Act, Insolvency Act 2063, Securities Act 2063.
• Competition Promotion and Market Protection Act 2063, Consumer Protection Act 2075, and tax laws (Income Tax Act 2058, VAT Act 2052).
• Intellectual property acts and the Arbitration Act 2055.

Labour law

Labour law regulates the relation between employer and employee. The main law is the Labour Act 2074 with Labour Rules 2075, supported by the Contribution-Based Social Security Act 2074 and Trade Union Act 2049. It covers:

• Appointment letters and types of employment (regular, work-based, time-based, casual, part-time).
• Working hours (8 hours a day, 48 hours a week), rest, holidays and leave, overtime pay.
• Minimum remuneration, bonus, provident/contribution fund and gratuity.
• Health and safety, women's and child labour protection, discipline and termination, trade unions and collective bargaining, and labour dispute settlement.