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| caption = Raghunath Keshav Khadilkar | | caption = Raghunath Keshav Khadilkar | ||
| birth_date = {{Birth date|1905|12|15|df=y}} | | birth_date = {{Birth date|1905|12|15|df=y}} | ||
| birth_place = Naringa Village, Taluk Devgad, District Ratnagiri, | | birth_place = Naringa Village, Taluk Devgad, District Ratnagiri, Bombaby Presidency, British India | ||
| death_date = {{Death date and age|1979|03|08|1905|12|15|df=y}} | | death_date = {{Death date and age|1979|03|08|1905|12|15|df=y}} | ||
| nationality = Indian | | nationality = Indian | ||
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During his term as Union Minister for Labour, Khadilkar, championed a formula <ref>{{Cite book|url=https://archive.org/details/in.ernet.dli.2015.98981|title=Lok Sabha Debates Vol.9,no.11-20 Series.5 Session.3(nov-dec)|last=Not Available|date=1971}}</ref> to raise the minimum bonus from 4% to 8.33% (1/12th of annual salary). The Bonus Review Committee appointed in 1971 endorsed what came to be known as the Khadilkar formula. The Government enforced this formula by the Payment of Bonus Act, 1972. Under the Act, the quantum of minimum bonus was raised to 8.33%.<ref>{{Cite web|url=https://sol.du.ac.in/mod/book/view.php?id=794&chapterid=446|title=ORGAISATIONAL-WIDE INCENTIVE PLANS|last=|first=|date=|website=|archive-url=|archive-date=|access-date=}}</ref> This practice of giving one month's salary as bonus to workers (especially during Diwali) is widely followed by households and businesses even today. | During his term as Union Minister for Labour, Khadilkar, championed a formula <ref>{{Cite book|url=https://archive.org/details/in.ernet.dli.2015.98981|title=Lok Sabha Debates Vol.9,no.11-20 Series.5 Session.3(nov-dec)|last=Not Available|date=1971}}</ref> to raise the minimum bonus from 4% to 8.33% (1/12th of annual salary). The Bonus Review Committee appointed in 1971 endorsed what came to be known as the Khadilkar formula. The Government enforced this formula by the Payment of Bonus Act, 1972. Under the Act, the quantum of minimum bonus was raised to 8.33%.<ref>{{Cite web|url=https://sol.du.ac.in/mod/book/view.php?id=794&chapterid=446|title=ORGAISATIONAL-WIDE INCENTIVE PLANS|last=|first=|date=|website=|archive-url=|archive-date=|access-date=}}</ref> This practice of giving one month's salary as bonus to workers (especially during Diwali) is widely followed by households and businesses even today. | ||
He served as Deputy Speaker | He served as 4rd Deputy Speaker of [[Lok Sabha]] from 1967 to 1969, Minister of Supply, from 1969 to 1971, and Minister of Labour and Rehabilitation in 1971. | ||
As a social and political activist, Khadilkar served several terms of imprisonment between 1930 and 1945 during India's freedom movement. He was one of the founder Members of the [[Congress Socialist Party]] in 1934, and elected member of its National Executive in 1936. He left [[Indian National Congress|Congress]] in 1948 to form the [[Peasants and Workers Party of India|All India Peasants’ and Workers' Party]] with other colleagues. He was elected as its General Secretary in 1953. In 1955, he took a leading part in forming the All India Mazdoor Kisan Party, a coalition of seven leftist organizations, and was elected Secretary Convener of the Central Committee. | As a social and political activist, Khadilkar served several terms of imprisonment between 1930 and 1945 during India's freedom movement. He was one of the founder Members of the [[Congress Socialist Party]] in 1934, and elected member of its National Executive in 1936. He left [[Indian National Congress|Congress]] in 1948 to form the [[Peasants and Workers Party of India|All India Peasants’ and Workers' Party]] with other colleagues. He was elected as its General Secretary in 1953. In 1955, he took a leading part in forming the All India Mazdoor Kisan Party, a coalition of seven leftist organizations, and was elected Secretary Convener of the Central Committee. | ||