Wage Code Bill

The changes under the new wage code can only be implemented across the country once the centre receives draft guidelines from all the states and UTs

Here is a look at some of the salient ones

From investor charter presented in the Union Budget to correction in gold prices, here are the top headlines on Tuesday morning

Wage code raises EPF contribution, to offset this invest less in PPF or NPS

The Union Cabinet last week approved the Code on Social Security Bill-2019

It contains numerous positive elements, such as introduction of a statutory national floor-level minimum wage for the first time in India, but it has missed an opportunity to do more

The wage code bill is one of four codes envisaged by the govt which would subsume 44 labour laws with certain amendments to improve ease of doing business and attract investment for spurring growth

The bill also seeks to combine Payment of Wages Act, 1936, the Minimum Wages Act, 1949, the Payment of Bonus Act, 1965, and the Equal Remuneration Act, 1976, into one code

The new minimum wage norms would be applicable for all workers irrespective of their pay

Bill seeks to empower Centre to fix minimum wage across all sectors in the country; govt concludes talks with unions, industry

At present, the Centre and states fix minimum wages for different categories of workers in various sectors under their respective jurisdictions