NEW DELHI: Three labor code invoices, which will provide social Security for workers in organized and unorganized sectors, as well as eliminating obstacles to the dissolution of companies, have been overcome Parliament.
Rajya sabha He approved the bills on labor relations, occupational safety and social security by oral vote on Wednesday, amid continued boycott by opposition parties over the suspension of eight deputies. The three bills, which were approved Lok Sabha on Tuesday, it will now be sent to the president for approval. Describing the bills as “historic revolutionaries”, Minister of Labor Santosh Gangwar He said they will harmonize the needs of workers, industries and other related parties. The reforms will prove to be a milestone for the well-being of workers in the country, while also providing a transparent system that adapts to the changing business environment, he said.
The reforms will safeguard the interests of workers and provide them with “universal social security” by expanding the scope of the Employees Provident Fund Organization and the State Employees Corporation of India. There will be a “social security fund” to cover about 40 million million workers in the unorganized sector, he said.
The reforms will also allow companies with up to 300 workers to fire workers without permission from the government. As many as 16 states have already raised the threshold for closing, firing and downsizing companies with up to 300 workers without government permission, he said. He said it was not good for job creation to keep the threshold low at 100 because it discourages employers from hiring more workers.
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