B.C. Prabhakar, Chairman of BCP Associates and Pooja Prabhakar, CEO and Managing Partner of BCP Associates were invited by NHRD Bangalore Chapter to speak on the implementation of the new Labour Codes and their impact on the industry. In a concise and very well received presentation, Pooja focused on the Financial, Operational, Functional and Employee centric impacts
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Tag: labour code
Most companies have been devising wage structure of their employees, basis their pay-out culture, employee category and at most, catering to tax implications on the employees. The usual norm has been to devise a Cost-to-Company structure, encompassing basic wages, variable pay-out, employee benefits and retirals. However, the same has not been free from loopholes, as regard compliance with various legislations concerning wages is concerned.
The Indian Parliament recently passed The Code on Social Security, 2020 (the Code) and it received the assent of the President on 29th September, 2020. The Code consolidates among other legislations, the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 and the Employees’ State Insurance Act, 1948. The criteria for applicability of the said legislations are provided in Schedule 1 of the Code. As per the Schedule, the provisions relating to the Employees’ Provident Fund Scheme, as contained in the
With growing industrialisation, workers migrate because of the booming economy in some states, which provide them with more work opportunities. The organisations with their base in these relatively developed states, in turn, employ such workers in ancillary activities like housekeeping, security, construction, etc. As such workers whose services are requisitioned outside their native states in
Liability of Principal Employer for payment of Wages and Bonus to Contract Labour – Proposed Wage Code Regime
Engagement of contract labour has been a common industry practice for several decades in India. The system has proved to be beneficial in speedy completion of assigned work according to specifications and easing burden of the principal employer with respect to extensive supervision and control. The Existing Regime Employment of contract labour, wherever it is not prohibited, is governed by the provisions of the Contract