Code of Wages,2019, replaces
The Payment of Wages Act, 1936 – To regulate the payment of wages to employees ensuring payments are disbursed on time without any undue deductions.
The Minimum Wages Act, 1948 – To protect workers against low pay and enforce fixing of minimum rates of wages.
The Payment of Bonus Act, 1965 – To provide for payment of bonus to persons employed in certain establishments based on profits or production.
The Equal Remuneration Act, 1976 – To mandate equal remuneration for men and women workers and to prevent gender discrimination in employment matters.
The “Code on Wages” Act has 9 chapters with 69 sections covering different aspects of payment of wages, minimum wages, equal remuneration, and payment of bonus.
Separate definitions of who is a worker, not a worker, and who is an employee are given in the code.
Definition of “wages” has been unified with intent to bring a uniform definition of “wages” across all legislation and to minimize litigation and what all Components are included in the wages: Basic Pay, Dearness Allowance, Retaining Allowance if any.
And also what is excluded in wages like for example HRA.
The Act is extensive and all HRs must make themselves thorough about key provisions.
The Payment of Wages Act, 1936 – To regulate the payment of wages to employees ensuring payments are disbursed on time without any undue deductions.
The Minimum Wages Act, 1948 – To protect workers against low pay and enforce fixing of minimum rates of wages.
The Payment of Bonus Act, 1965 – To provide for payment of bonus to persons employed in certain establishments based on profits or production.
The Equal Remuneration Act, 1976 – To mandate equal remuneration for men and women workers and to prevent gender discrimination in employment matters.
The “Code on Wages” Act has 9 chapters with 69 sections covering different aspects of payment of wages, minimum wages, equal remuneration, and payment of bonus.
Separate definitions of who is a worker, not a worker, and who is an employee are given in the code.
Definition of “wages” has been unified with intent to bring a uniform definition of “wages” across all legislation and to minimize litigation and what all Components are included in the wages: Basic Pay, Dearness Allowance, Retaining Allowance if any.
And also what is excluded in wages like for example HRA.
The Act is extensive and all HRs must make themselves thorough about key provisions.