New Labor Codes India: Major changes and reforms in labor laws have been announced by the Central Government on Friday. The government has implemented 4 new labor codes by replacing the old labor laws. Union Labor and Employment Minister Mansukh Mandaviya has given this information while posting on social media platform X.
He has described this step as a historic step taken by Prime Minister Narendra Modi for the workers. Which provides workers with security and economic strength as well as the opportunity to work with dignity.
Also, the Prime Minister also wrote on Twitter in this regard that, today our government has implemented four labor codes. He also described this Labor Code as the biggest and progressive worker-centric reform since independence. Due to which the workers will get more power and doing business will be easier than before.
Which are these 4 labor codes?
The four labor codes that have been implemented by the government are the Wage Code, Industrial Relations Code, Social Security Code and Occupational Safety Code. 29 old labor laws made in the country since independence have now been merged into these four new codes.
The government believes that the old laws cannot be suitable for the current economy and working methods. The rules should also be as modern as today. Therefore the decision to make this change has been taken.
Company will have to give appointment letter
It has been decided by the government that now the company will compulsorily give appointment letter to every employee at the time of appointment. This will promote transparency and prevent the arbitrariness of the company. Also, about 40 crore unorganized sector workers of the country will be brought under the ambit of social security. With which they will be able to get facilities like PF, ESIC and pension.
Gratuity rules also changed
The implementation of new rules can be a big benefit for those working in private companies. Earlier, to get gratuity, it was necessary to work in the same company for 5 years, but now Fixed Term Employees (FTE) will be entitled to gratuity even after working for only 1 year. This will also benefit those employees who work on short term contracts and were not able to get this facility earlier.
The rules related to overtime have also been changed. Under these changes, if an employee works more than the stipulated time, the company will have to pay him double the salary. Besides, the government has also ensured that the employees get their salaries on time, so that no one has to face financial problems at the end of the month.
Also read: Sold even the leftovers… Adani Group took exit from this company, what was the effect on the shares?
