The new wage code has been eagerly awaited for quite some time, with multiple deadline extensions adding to the anticipation. People are curious to uncover the details hidden within these new codes, as various updates have been in progress continuously.
However, there is still confusion surrounding the fixed implementation date. Everyone is eagerly waiting for this information to be clarified. The new wage code has been long-awaited, with multiple deadline extensions. People are eager to discover what the new codes entail, considering the ongoing updates. Nonetheless, the specific date for implementation remains uncertain, leaving everyone in anticipation.
Understanding the Latest Updates on Labor Laws Before Implementation
It is crucial to stay informed about the latest updates regarding labor laws before their implementation. Draft rules for all four labor codes have been received from most states, but the new rules will be implemented at the appropriate time. According to sources, the codes will be implemented systematically based on the number of drafts prepared. Currently, 31 states have submitted their drafts on The Code on Wages, 2019.
Furthermore, comments have been received from 26 states on The Industrial Relations Code, 2020. Additionally, 25 states have submitted drafts on The Code on Social Security, 2020, while drafts for The Occupational Safety Health and Working Conditions Code, 2020, have been received from 24 states.
Final deadline to be decided by states, the Center is ready
States will have the authority to decide the final deadline, and the central government is prepared to accommodate their decisions. The New Wage Code may be implemented soon, as indicated by sources within the Ministry of Labor. However, the decision will be made once the drafts for all four codes are received from the states. It is likely that the codes will be implemented gradually.
The central government can issue an official notification before October 1, 2022, with the codes considered applicable from that date. States may have flexibility in implementing the codes according to their own requirements. However, a final deadline must be set for all four codes, and states may be given a year’s time for implementation.
Anticipated Changes in Holidays, Working Hours, and Rules
The four new codes (New Wages Code) have been created by amalgamating 29 central labor laws. These include the Industrial Relations Code, the Code on Occupational Safety, Health and Working Conditions (OSH), the Social Security Code, and the Code on Wages. One of the significant changes is the expanded definition of wages, with 50 percent of the salary directly included in the wages.
According to Virjesh Upadhyay, a board member of EPFO and the General Secretary of Bharatiya Mazdoor Sangh, social security is of utmost importance for employees, encompassing crucial aspects. Rules will be revised concerning working hours, annual holidays, pension, PF, take-home salary, and retirement. There will be a restriction on working more than 48 hours per week, ensuring a maximum work limit.