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Last Day, India Cabinet clears Minimum Wages Bill Code, main points regarding this are given below
 The Union cabinet today cleared a plan to introduce a pan-India minimum wage that will cover all sectors of the economy.
 The Labour Code on Wages Bill seeks to empower the Centre to fix a universal minimum wage for workers across the country. The new law is expected to benefit over 4 crore employees across the country.
 The Code will consolidate four different wage-related laws: the Minimum Wages Act, 1948, the Payment of Wages Act, 1936, the Payment of Bonus Act, 1965, and the Equal Remuneration Act, 1976.
 The new code will also cover employees who draw more than Rs. 18,000 a month who are currently outside the ambit of the Minimum Wages Act.
 The bill is likely to be introduced in Parliament during the monsoon session which concludes on August 11.
 The Centre will revise the national minimum wage every two years. The frequency of the wage revision could become every five years if dearness allowance is included in the wage.
 The new minimum wage code will also seek to adopt a universal definition of the terms like wages and salaries. At present, employers across different sectors have to grapple with at least a dozen definitions of wage-related terms strewn across various Acts passed by the Centre and the states.
 Four bills that will be consolidated in the Labor Code on Wages Bill include the Minimum Wages Act, 1948; the Payment of Wages Act, 1936; the Payment of Bonus Act, 1965; and the Equal Remuneration Act, 1976
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Hi Gaurav Ji ,
Can you elaborate its positive and negative impacts on part of employers & employees ??
Please do the needful ...
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