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Brief
The Code on Wages, 2019 is an act that aims to amend and consolidate the laws relating to wages and bonus. The code provides a framework for payment of minimum wages, payment of dues claims and audit, inspection-cum-facilitator, offenses and penalties, miscellaneous provisions, and more.
The code defines key terms such as 'accounting year', 'advisory board', 'central government', 'employer', 'employee', 'establishment', 'factory', 'government establishment', 'income-tax act', 'inspector-cum-facilitator', 'minimum wage', 'notification', 'prescribed', 'same work or work of a similar nature', and 'worker'.
The code outlines the following provisions:
- Payment of minimum rate of wages
- Fixation of minimum wages
- Components of minimum wages
- Procedure for fixing and revising minimum wages
- Power of central government to fix floor wage
- Wages of employee who works for less than normal working day
- Wages for two or more classes of work
- Minimum time rate wages for piece work
- Fixing hours of work for normal working day
- Wages for overtime work
The code also provides provisions for payment of wages, fixation of wage period, and time limit for payment of wages.
Overall, the Code on Wages, 2019 aims to provide a comprehensive framework for the payment of wages and bonus in India.
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