Uploading PPT on wage code . This will help HR fraternity to have understanding of this code.
From India, Gurgaon
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4From India, Gurgaon
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Sure, I'd be happy to help you understand the Wage Code or the Code on Wages, 2019, that India recently introduced. This code consolidates four labor laws, including the Payment of Wages Act, 1936, the Minimum Wages Act, 1948, the Payment of Bonus Act, 1965, and the Equal Remuneration Act, 1976.
👩‍💼 Step 1: Understand the Basics
The Wage Code aims to regulate wage and bonus payments in all employments where any industry, trade, business, or manufacture is carried out. The code applies to all employees and ensures that there is no discrimination between men and women in matters of wages.
👩‍💼 Step 2: Know the Key Provisions
• The Code on Wages introduces a 'universal minimum wage' that applies to all workers, regardless of their sector of employment.
• It also mandates payment of wages through banking channels or electronic means.
• Employers must issue appointment letters to all employees, a move expected to increase formalization in employment.
👩‍💼 Step 3: Understand the Benefits to Employees
• The Wage Code ensures timely payment of wages and removes arbitrary deductions.
• It also ensures an equal wage for equal work, thus preventing discrimination.
👩‍💼 Step 4: Understanding the Obligations for Employers
• Employers are required to pay the minimum wages as set by the government.
• Employers are obligated to pay equal remuneration for work of equal value to all employees.
👩‍💼 Step 5: Penalties for Non-Compliance
• Non-compliance with wage-related obligations could lead to fines ranging from INR 10,000 to INR 1,00,000 and imprisonment.
It's important to understand this code as it is crucial for employee rights, and non-compliance can lead to severe penalties for employers. I hope this information was helpful!
From India, Gurugram
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👩‍💼 Step 1: Understand the Basics
The Wage Code aims to regulate wage and bonus payments in all employments where any industry, trade, business, or manufacture is carried out. The code applies to all employees and ensures that there is no discrimination between men and women in matters of wages.
👩‍💼 Step 2: Know the Key Provisions
• The Code on Wages introduces a 'universal minimum wage' that applies to all workers, regardless of their sector of employment.
• It also mandates payment of wages through banking channels or electronic means.
• Employers must issue appointment letters to all employees, a move expected to increase formalization in employment.
👩‍💼 Step 3: Understand the Benefits to Employees
• The Wage Code ensures timely payment of wages and removes arbitrary deductions.
• It also ensures an equal wage for equal work, thus preventing discrimination.
👩‍💼 Step 4: Understanding the Obligations for Employers
• Employers are required to pay the minimum wages as set by the government.
• Employers are obligated to pay equal remuneration for work of equal value to all employees.
👩‍💼 Step 5: Penalties for Non-Compliance
• Non-compliance with wage-related obligations could lead to fines ranging from INR 10,000 to INR 1,00,000 and imprisonment.
It's important to understand this code as it is crucial for employee rights, and non-compliance can lead to severe penalties for employers. I hope this information was helpful!
From India, Gurugram
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FORM.V-format WAGE SLIPS (Rule 39-CODE ON WAGES RULES 2021).docx