LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

On Wage Code Bill, Cabinet approval likely next week: All you need to know

The Union Labour Ministry is likely to seek Cabinet approval for the Code on Wages Bill next week. With this, the ministry is looking to bring in a fresh wave of labour reforms. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
On Wage Code Bill, Cabinet approval likely next week: All you need to know
Wage Code Bill was introduced in the Lok Sabha on August 10, 2017. Image: Reuters file
Written By: ZeeBiz WebTeam
Updated: Sun, Jun 23, 2019
02:34 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
How Code on Wages 2019 will benefit workers across India How Code on Wages 2019 will benefit workers across India
Minimum guaranteed wage for Railways, mining workers! Key points to know about Modi govt's Wage Code Bill Minimum guaranteed wage for Railways, mining workers! Key points to know about Modi govt's Wage Code Bill
Cabinet clears Wage Code Bill, 5 points which will explain its meaning Cabinet clears Wage Code Bill, 5 points which will explain its meaning
'Universal pay' may soon be a reality in India; find out what it is 'Universal pay' may soon be a reality in India; find out what it is

The Union Labour Ministry is likely to seek Cabinet approval for the Code on Wages Bill next week. With this, the ministry is looking to bring in a fresh wave of labour reforms. The ministry is also pushing for the passage of the bill in the ongoing Parliament session, PTI reported a source as saying. The bill had lapsed after the 16th Lok Sabha dissolved last month. The ministry would now have to seek the Union Cabinet's approval for introducing it in either House of Parliament."Cabinet can approve the wage code bill next month. The Labour Ministry wants to push the draft law for passage in the current Parliament session," said the source.

Here are key points you need to know about the bill:

- Wage Code Bill was introduced in the Lok Sabha on August 10, 2017. On August 21, 2017, it was referred to the Parliamentary Standing Committee, which submitted its report on December 18, 2018.

- The wage code bill is one of four codes envisaged by the government which would subsume 44 labour laws with certain amendments to improve the ease of doing business and attract investment for spurring growth.

- The four codes will deal with wages, social security, industrial safety and welfare, and industrial relations.

- The Code on Wages will replace the Payment of Wages Act, 1936, Minimum Wages Act, 1948, Payment of Bonus Act, 1965, and the Equal Remuneration Act, 1976.

- The bill provides that the central government will fix minimum wages for certain sectors, including railways and mines, while the states would be free to set minimum wages for other category of employments.

- The code also provides for setting of a national minimum wage. The central government can set separate minimum wages for different regions or states.The draft law also says that the minimum wages would be revised every five years.

- Earlier this month, following an inter-ministerial meeting chaired by Home Minister Amit Shah, Labour Minister Santosh Gangwar had said his ministry would push for the passage of the bill in the current session of Parliament.

- The meeting was also attended by Finance Minister Nirmala Sitharaman and Commerce and Railway Minister Piyush Goyal. 

(With agency inputs)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Wage Code Bill
RELATED NEWS
How Code on Wages 2019 will benefit workers across India How Code on Wages 2019 will benefit workers across India
Minimum guaranteed wage for Railways, mining workers! Key points to know about Modi govt's Wage Code Bill Minimum guaranteed wage for Railways, mining workers! Key points to know about Modi govt's Wage Code Bill
Cabinet clears Wage Code Bill, 5 points which will explain its meaning Cabinet clears Wage Code Bill, 5 points which will explain its meaning
'Universal pay' may soon be a reality in India; find out what it is 'Universal pay' may soon be a reality in India; find out what it is

LATEST NEWS

PM Modi to deliver inaugural address at 2nd Khelo India National Winter Games today

RBI Governor Shaktikanta Das speaks on petrol, diesel prices, economy, MSME scope and much more at BCCI event

Stocks to Buy With Anil Singhvi: Lumax Auto Technologies is a top pick for Sandeep Jain today | Money Making Tip

Redmi K40, Redmi K40 Pro launch today: Check timings, how to watch event live streaming

UP Police Recruitment 2021: Notification for 9,534 vacancies released on uppbpb.gov.in| Check salary, age limit and other details

PAN Aadhaar Link Online Last Date: This will happen if you don't do what Income Tax dept has said! Do now via SMS

BSSC 1st Inter Level Combined Competitive Mains Exam 2014 result declared; check and download it from bssc.bih.nic.in —Steps here

US launches airstrikes on Iran-backed terrorist infrastructure in Syria

West Bengal Elections: Meaning of Lokkho Sonar Bangla campaign? Its benefits for Bengalis? Decoded and explained

Big development! Government announces new guidelines to curb misuse of social media platforms; 3 tier mechanism for OTTs

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved