Cabinet Clears Minimum Wage Code Bill
New Delhi: The Union Cabinet today approved the new wage code bill which will ensure a minimum wage across all sectors by integrating four labour related laws.
The proposed legislation is expected to benefit over 4 crore employees across the country.
The Labour Code on Wages Bill will consolidate the Minimum Wages Act, 1948; the Payment of Wages Act, 1936; the Payment of Bonus Act, 1965; and the Equal Remuneration Act, 1976, sources said.
The approval for the draft bill was given by the Union Cabinet chaired by Prime Minister Narendra Modi today.
The bill seeks to empower the Centre to set a minimum wage across all sectors in the country and states will have to maintain that.
However, states will be able to provide for higher minimum wage in their jurisdiction than fixed by the central government, sources said.
The bill is likely to be introduced in Parliament during the ongoing monsoon session which will conclude on August 11.
The new minimum wage norms would be applicable for all workers irrespective of their pay. At present, the minimum wages fixed by the Centre and states are applicable to workers getting up to Rs 18,000 pay monthly.
This would ensure a universal minimum wage for all industries and workers, including those getting monthly pay higher than Rs 18,000, according to senior officials.
Earlier in the day, Labour Minister Bandaru Dattatreya in a written reply informed the Rajya Sabha that the Second National Commission on Labour has recommended that the existing labour laws should be broadly grouped into four or five labour codes on functional basis.
Accordingly, he said the ministry has taken steps for drafting four Labour Codes on -- Wages; Industrial Relations; Social Security & Welfare and Safety and Working Conditions, respectively.
It will be done by simplifying, amalgamating and rationalising the relevant provisions of the existing central labour laws.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
