Key impact areas under new Labour Codes

The four Labour Codes, i.e. Code on Wages, Code on Social Security, The Occupational Safety, Health and Working Conditions Code (OSHWC) and The Industrial Relations Code are expected to bring in much awaited labour reforms in the country. Though 1 April 2021 was indicated as the likely date for implementing the four codes across the country, the government is yet to notify the same. It is important for stakeholders across industry to understand these codes so that the new legislations can be adopted and implemented in a seamless manner. 

In anticipation of the codes, Grant Thornton Bharat and Confederation of Indian Industry (CII) organised a webinar on Key impact areas under new Labour Codes.

Key highlights of the session:

• Impact in definition of wages and it’s impact on compensation structure & retiral benefits
• Concept of National floor wage and minimum wages
• HR/Payroll policies and process related to overtime, full and final settlement, leave, female employees
• Concept of fixed-term employment and implications for employers
• Concept of core vs. non-core activity for engaging contractual workers
• Model standing orders
• Grievance redressal mechanism
• Consequences of non-compliance