New Labor Code: Speaking on the new Labor Code, Union Labor Minister Bhupendra Yadav said that the new Labor Code extends social security to both organized and unorganized workers. He said in a program that new employment opportunities would be created through the new labor code.
The central government is preparing to implement the new labor code. However, there is no official statement from the government on when it will be fully implemented. Union Labor Minister Bhupendra Yadav recently told that what is the government’s plan behind implementing the new labor code. He said in a program that new employment opportunities would be created through the new labor code. Along with this, there will be better capital formation and skill development. With the growth in production through digital technology, digital technology will also be used for the welfare of workers.
Occupational Safety and Wage Standards
In the program organized at National Institute of Personnel Management, Pune, Bhupendra Yadav said- The aim of the new labor code is to build a lawsuit-free society. In this way the common citizens have to be empowered. Also, there should not be unnecessary criminalization. We have rationalized old laws and considered occupational safety and wage standards to ensure fair wages for both men and women. He said that 29 different Acts have been converted into four new labor codes.
Four new codes
The new labor codes are related to Wage, Social Security, Industrial Relations and Occupational Safety. Bhupendra Yadav said that under the new labor code, laws have been made to implement occupational safety.
New environment will be created
He told that there is a provision of social security fund in the new labor code. Laws with criminal provisions have been reduced from 1,500 to just 22 of the Industrial Relations Code. Because of this, a suitable new environment will be created for both the workers and the employers.
28 crore workers registered
He said the new labor code extends social security to both organized and unorganized workers. There is also a provision for registration of unorganized workers, he said that in 7 months 28 crore unorganized sector workers have registered on e-shram portal through 4 lakh common service centers.
Yadav said that we have also provided insurance cover to all the workers. I also tell the labor unions that our government is committed to the welfare of the workers. All unions have supported us.
There was talk of implementing the new labor code from July 1, but not all states could prepare their drafts on the code. Because of this the new labor code could not be implemented. No news has come out on how long this will be implemented in the whole country.
Provision of 3 days weekly off
According to the new labor code, employed people can get four days of work and three holidays in a week. In the new wage code, a provision has been made to change the basic salary as well. After its implementation, you will get less take home salary i.e. in hand salary in your account.
In hand salary less
The government has made new rules regarding pay rolls. Under the new wage code, the basic salary of an employee should be 50 percent or more of his total salary (CTC). Now if your basic salary increases, then your contribution to PF fund will also increase. In such a situation, more money will be deposited in PF than before. In this way the employees will get huge amount at the time of retirement.
