INTRODUCTION The four labour codes – Code on Wages 2019, Code on Social Security 2020, Industrial Relations Code 2020, and Occupational Safety, Health and Working Conditions Code 2020 consolidate 29 Central Labour Laws. The Codes received Presidential assent between 2019 and 2020 but the states are yet to finalize their rules under these codes. The
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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
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.
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