Labour Codes Implementation: The implementation of four labor codes is now awaited. The Government of India can announce a big decision in this regard in the upcoming budget.
Labour Codes Implementation: Labor codes providing four days of work and three days of rest in a week have been prepared in the country. The implementation of such four labor codes is now awaited. According to the report of Economic Times, the Government of India can announce a big decision in this regard in the upcoming budget. Under this, there is a possibility of announcement during the budget about how the labor codes will be implemented. Especially, light will be thrown on what will be the methods of implementation of labor codes in which types of companies, in which types of companies it will be implemented first. According to the report of Economic Times, the Government of India has decided to implement it in the next financial year i.e. the financial year starting from April 2025.
It will be implemented first in companies with more than 500 employees
According to the report of Economic Times, the Government of India will first implement the new labor code in companies with more than 500 employees. After starting its implementation in large establishments, it will be implemented in other companies in three phases. In the first year, it will be implemented only in large establishments i.e. companies with more than 500 employees. After that, it will be implemented in the second year in medium level enterprises i.e. enterprises with 100-500 employees. It has been planned to implement it in small establishments i.e. those with less than 100 employees from the third year. To implement it, the process of finalizing the draft rule related to it is in the final stage in many big states. In this way, 85 percent of the establishments in India coming under micro and small enterprises will get two years to implement the labor code.
Draft rules of all four labor codes will be ready by March
Union Labor Ministry officials told Economic Times that discussions are going on continuously with the Chief Secretaries of the states regarding the implementation of all four labor codes. Draft rules related to this will be ready by March in almost all the states.
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