As of now, the new labor codes (IR, Wages, Social Security, OHS) are yet to be implemented. The government had planned to implement these from April 2021, but the implementation has been deferred due to the ongoing Covid-19 pandemic.
The Ministry of Labour and Employment is working on the rules of the new codes, and once the rules are finalized, the codes will be implemented. The codes aim to provide a comprehensive social security system, simplify wage-related regulations, and improve the safety and working conditions of workers.
Regarding the Code on Wages, 2019, it has been passed but is not yet implemented. The code aims to amend and consolidate laws relating to wages and bonus and matters connected therewith. It will ensure that there are no discrepancies in wage payments and that all workers receive a minimum wage.
Once the codes are implemented, they will significantly change the way industries function and will have a major impact on both employers and employees. It is advisable to keep a regular check on updates from the Ministry of Labour and Employment's official website http://www.labour.nic.in/ to stay informed about the latest developments in this regard. Please ensure that you comply with all the new rules once they are implemented to avoid any legal issues.