Hindi
NFDC to trim staff in move to turn profitable
NEW DELHI: The National Film Development Corporation, which expects to turn into a profit-making body by 2012-13, hopes to reduce its manpower by 30 employees in the near future in a move to cut costs.
The Corporation had in December 2008 reduced its manpower to 139, after offering Voluntary Retirement Scheme (VRS) to 70 employees by paying them Rs 70 million. This has resulted in an annual saving of Rs 20 million.
The Information and Broadcasting Ministry has given the NFDC a grant-in-aid of Rs 120 million for VRS.
Launched in May 1975 with a corpus of Rs 30 million in 300,000 equity shares of Rs 100 each, NFDC got an additional share capital of Rs 35 million when the Film Finance Corporation and the Indian Motion Pictures Export Corporation were merged into it in 1980.
NFDC presently has an authorised capital of Rs 140 million and a paid-up capital of Rs 139.9 million. It has recently been given a fresh equity of Rs 212.3 million and has been allowed conversion of its working capital into equity.
Ministry sources also told indiantelevision.com that the interest on Rs 57.4 million on working capital loan has been waived. It has also been given Rs 200 million as preferential equity for restoration and digitisation of NFDC films, and a sum of Rs 300 million has been set aside in the Eleventh Plan for production of films in various regional languages.
The government released Rs 65 million in 2008-09 and a provision of Rs 65 million has been made for 2009-10 for financing films in regional languages.
The NFDC had in 1992 also launched a trust in the name of Cine Artistes Welfare Fund of India with a corpus of Rs 48.9 million, which presently stands at Rs 63.6 million. Just under 1000 cine artistes have availed pension and other benefits and around 450 are doing so at present.
NFDC has so far produced or financed over 300 films which include 17 international co-productions, the most prominent being ‘Gandhi’ which won eight Oscars including one for Indian costume designer Bhanu Athaiya.
The NFDC showed a loss of Rs 92.549 million in 2003-04, which came down to Rs 38.674 million a year later. The Corporation showed profit of Rs 24.815 million in 2005-06 but again ran into a loss at Rs 50.56 million and Rs 22.76 million in 2006-07 and 2007-08 respectively.
Hindi
New labour codes reshape rules for India’s media & entertainment sector
EY masterclass highlights unified framework, wage redefinition and expanded coverage.
MUMBAI: The new labour codes just rewrote the rulebook for India’s media and entertainment industry because when four old laws become four big codes, even the fine print needs a director’s cut. At the FICCI-EY Media & Entertainment Industry Report launch, EY partners Nirali Goradia and Lakshmi Ranganathan delivered a detailed masterclass on how the labour codes implemented in November 2025 are fundamentally changing the sector. The four consolidated codes Code on Wages, Code on Social Security, Industrial Relations Code, and Occupational Safety, Health and Working Conditions Code have replaced a fragmented set of central and state regulations that existed for decades.
The speakers explained that the new framework brings consistency across all types of establishments and workers. Previously, cine-workers, journalists and other media professionals were governed by separate, narrow laws. Now, definitions have been broadened: “audio-visual worker” now covers everyone involved in film, television, OTT, broadcasting and digital content creation, while “working journalist” extends to digital news platforms.
Key changes include:
- A uniform definition of wages, with at least 50% of total remuneration needing to qualify as wages for calculations like provident fund and gratuity.
- Expanded social security coverage for gig workers, platform workers and project-based freelancers.
- Unified working conditions, safety norms and leave entitlements.
- Simplified compliance through digital filings and a more principle-based approach.
Nirali Goradia emphasised that the codes aim to bring gig workers, freelancers and project-based talent under the social security net, though the exact contribution mechanism for platform workers is still being finalised. She noted that the intent is clear: no worker should be left out of basic protections such as provident fund, ESI, gratuity and safety standards simply because of the nature of their engagement.
Lakshmi Ranganathan highlighted that establishments in the sector must now carefully map their workforce—permanent employees, fixed-term contracts, freelancers and gig workers because different categories attract different obligations. She pointed out that gratuity vesting for journalists remains at three years, but the broader wage definition will impact calculations across the board. Organisations that previously computed contributions on basic salary (often 35-40%) will now need to move to at least 50% of total wages, potentially increasing costs by around 10% on a recurring basis. This change applies retrospectively for gratuity valuation as well, creating immediate balance-sheet implications for many companies.
The panel also discussed how the Occupational Safety, Health and Working Conditions Code has expanded the definition of “manufacturing process” to include digital printing and related activities. This brings more workers under safety and working-condition norms that were previously limited. Additionally, the codes introduce a clearer framework for fixed-term employment contracts, offering organisations flexibility while ensuring such workers receive benefits similar to permanent employees, including gratuity after one year.
One area still evolving is the treatment of platform and gig workers. The Social Security Code recognises this new category, but the exact funding mechanism and contribution structure are awaited. Industry experts expect a dedicated fund where platforms and employers will contribute, from which benefits can be extended to gig workers. Until the schemes are notified, organisations are advised to review their existing contractor and freelancer agreements to assess potential future obligations.
Both partners stressed the need for proactive steps. Companies should:
- Reclassify their workforce based on the new definitions of “employee” and “worker”.
- Review compensation structures to align with the 50 per cent wage threshold.
- Update contracts, especially for project-based and gig engagements.
- Reassess gratuity liabilities and payroll processes.
- Ensure compliance with expanded safety and working-condition requirements.
The speakers noted that while the codes bring much-needed unification and broader coverage, they also demand careful interpretation. The shift from highly prescriptive rules to a more principle-based regime means organisations must build internal frameworks to apply the codes consistently. This is particularly relevant for the media and entertainment sector, where project-based work, freelancers, short-term contracts and gig-style engagements are common.
In an industry that thrives on creativity and agility, the new labour codes are forcing a rewrite of the fine print. What was once a patchwork of rules is now a unified playbook and for media houses, the real plot twist will be how quickly they adapt to keep talent happy, costs manageable and stories flowing. The next few months, as states finalise their rules and schemes are notified, will be critical in determining exactly how this new framework reshapes hiring, compensation and workforce management across the sector.
