This report provides an overview of industrial instruments, focusing on the Fair Work Act and its implications for employers and employees in Australia. It examines the legal framework surrounding industrial instruments, including modern awards, enterprise agreements, and the National Employment Standards (NES). The report highlights the importance of understanding employer obligations and the potential penalties for non-compliance. Furthermore, the report delves into specific examples of parental leave policies, such as those offered by Woolworths and Grant Thornton. It analyzes the entitlements, eligibility criteria, and benefits associated with paid and unpaid parental leave, including maternity, paternity, and shared parental leave. The report also discusses the impact of these policies on employee well-being, workplace flexibility, and gender equality. Finally, the report includes references to relevant legislation, case studies, and company policies.