In 2019, the Ministry of Labour and Employment had introduced 4 Bills (Codes) to consolidate 29 laws of Central Government as regards employee renumeration.
These Codes were proposed to regulate the following 4 key aspects:
(i) Wages,
(ii) Industrial Relations,
(iii) Social Security, and
(iv) Occupational Safety, Health & Working Conditions.
The Code on Wages was passed by the Parliament in 2019, whereas the other 3 bills were referred to the Standing Committee on Labour.
Standing Committee on Labour submitted its report on the rest 3 Bills. Thereafter the Government replaced these Bills with new Codes on 19th September 2020.
In this report, we shall analyse the relevance and the applicability of the Code on Social Security 2020.