Article is about how women is empowered in the Corporate Sectors
Introduction and relevant laws
Various steps have been taken in the past to empower and increase the safety of women by inserting rights in the Constitution of India and making various laws for women. Here are some examples of Constitutional and legal rights:
Constitution of India:
- Article 15 (1) - State shall not discriminate against the citizen of India on the bassi of sex
- Article 15 (3) - The state is empowered to make special provisions for women
- Article 16 (2) - No citizen shall be discriminated for any employment or office under the state on the ground of sex
- Article 39 (a) - State to secure equally men and women the right to an adequate means of livelihood
- Article 39 (d) - The state to secure equal pay for equal work for both men and women
- Article 243 D (3) - One-third of the total number of seats to be filled by direct election in every Panchayat shall be reserved for women
- Article 243 D (4) - One-third of the total number of offices of chairpersons in the Panchayats at each level shall be reserved for women
Legal Rights :
1. Dowry Prohibition Act (1961)
2. Commission of Sati (Prevention) Act (1987)
3. Protection of Women from Domestic Violence Act (2005)
4. Equal Remuneration Act (1976)
5. National Commission for Women Act (1990)
6. Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal). Act (2013)
Contribution of Company Law
Companies Act, 2013 have taken a step forward by making the participation of women mandatory in the Corporate world via chapter XI, Section 149 (Company to have Board of Directors). In the Second proviso of Section 149 (1), it specifies such class or classes of companies as may be prescribed, shall have at least one women director. The conditions for this are prescribed in Rule 3 of Companies (Appointment and Qualifications of Directors) Rule, 2014.
When the countries like United States are still struggling to make "Equal Rights Amendment" (ERA) to be part of their Constitution which talks about the equal rights for women, decisions like these will help to involve more women at the top positions of Corporate sector. India is not the first country in implementing such laws, others like Norway, France, Italy, Spain and Belgium have already incorporate such laws in their legislature. New introduction to this list is Germany who gave 30% of the supervisory seats to women.
Rule 3 of Companies (Appointment and Qualification of Directors) Rule , 2014 specifies the class or classes of Companies who shall appoint at least one women director:
(a). Every Listed Company
(b). Public Company having paid up capital of Rs. 100 crore or more OR turnover of Rs. 300 crore or more.
The existing companies have to comply with this requirement within one year from the date of commencement of this Act and for new companies it is within six months from the date of incorporation. In the event of vacancy of women director, it shall be filled up not later than immediate next Board Meeting or three months from the date of vacancy whichever is later.
Require future amendments to make law more strong
This is a welcome move taken by the Government and it will help the capable women to show their efficiency at the top position of the Company. The only worry is that the law is not clear about the appointment of Independent women director. The law should impose some restriction on the appointment to make sure that the deserving women should get the opportunity and the purpose of this law will not get defeated. The women from Promoter's families, friends, sister, daughter etc. should not only get this opportunity but this position should be filled on merit.
Conclusion
This shows that India is heading towards giving more power to women and start recognizing their capabilities. Implementation of such laws in a right way are very important and we can expect more good thinks to come in future in order to build much stronger society and to bring equality not only on paper but in reality as well.