India's New Labour Codes Shatter Old Laws, Empower Workforce and Reshape Business Compliance
opinion
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CNBC TV18•03/12/2025
India's New Labour Codes Shatter Old Laws, Empower Workforce and Reshape Business Compliance
- •India has introduced four new labour codes to simplify and modernize labour laws.
- •The new codes are: Code on Wages 2019, Industrial Relations Code 2020, Code on Social Security 2020, and Occupational Safety, Health and Working Conditions Code 2020.
- •These codes aim to consolidate 29 central labour laws and cover all employees, including gig and platform workers.
- •The definition of 'Wages' is standardized across all codes, affecting employee compensation and employer costs.
- •Employers must recalibrate benefits like gratuity, retrenchment compensation, and maternity benefits.
Why it matters: The new labour codes can boost India's economic growth and improve workforce welfare.
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