The consolidation, rationalisation and simplification of labour related regulations is on track with Code on Wages, 2019 getting Presidential assent on August 08, 2019, after tboth Houses of Parliament gave thier ok.
This Code is 1st of the 4 labour codes which is now an Act, replacing four labour regulations viz. the Payment of Wages Act, 1936; the Minimum Wages Act, 1948; the Payment of Bonus Act, 1965; and the Equal Remuneration Act, 1976.
Some of the changes:
Definition of wages now has has three parts to it- an inclusion part, specified exclusions and conditions which restrict the quantum of exclusions.
Reading this act is very important for all HRs.
http://egazette.nic.in/WriteReadData/2019/210356.pdf
This Code is 1st of the 4 labour codes which is now an Act, replacing four labour regulations viz. the Payment of Wages Act, 1936; the Minimum Wages Act, 1948; the Payment of Bonus Act, 1965; and the Equal Remuneration Act, 1976.
Some of the changes:
Definition of wages now has has three parts to it- an inclusion part, specified exclusions and conditions which restrict the quantum of exclusions.
Reading this act is very important for all HRs.
http://egazette.nic.in/WriteReadData/2019/210356.pdf