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The Codes find favour with some and disfavours others!
The Codes find favour with some and disfavours others!
Original publication: 2023-10-26 16:54:55
The Codes find favour with some and disfavours others!
The consulting industry in India is a rapidly growing sector, with a CAGR of 30%. The industry is worth up to $1.4 billion and is expected to reach $2.1 billion by 2025. The key players in the consulting industry in India include some of the multinationals, however, Karma Global has upped its ante with loads of consulting work carried out in the IT, financial and regulatory services sectors. Karma Global a Leading Consulting Firm, With Operations in U.K, U.S. Canada, Middle East and South East Asia, specialises in areas like staffing, on-boarding, payroll, facility management, curbing regulatory risk, auditing and abiding by all labour law related compliance on PAN basis.The Codes find favour with some and disfavours others!
Critics say the four codes – the Code on Wages, 2019; the Industrial Relations Code, 2020; the Occupational Safety, Health and Working Conditions Code, 2020; and the Code on Social Security, 2020 – are controversial and anti-worker. However, other commentators have praised the codes, saying they will boost economic growth and employment, and remove outdated laws that are no longer fit for purpose in a rapidly transforming economy. Many commentators say the codes represent one of the most significant economic reforms undertaken by the Government. Preparation for The Changes According to the ‘Industry Expectation Survey on New Labour Codes’ by Grant Thornton Bharat, internal evaluations have been initiated by 43% of organizations with the goal of successful adoption of the new labour codes in India. While 20% of businesses have hired outside experts to help them be prepared. Karma Global has been registered by many clients for implementing the various codes within client’s organizations. According to the report, 13% of businesses are awaiting the formal announcement of the implementation date of the new labour codes of 2022, and 20% of respondents have not yet chosen their implementation techniques. Further, as per the study, organizations must assess how financial factors like gratuity, leave encashment, statutory bonus, etc., would affect overall employee pay expenditures in order to improve planning. What Is That Workers Will Get and Managers Will Not Get Under New Codes! The various provisions of the labour codes are drafted with a view to protect and safeguard the interests of workers – thereby excluding managerial and supervisory individuals. It is because of this pertinent point; one can conclude that the labour codes are more beneficial for a 'worker' as compared to a 'manager'. The definition of worker is the key ………….! As per the labour codes, definition of worker includes any person employed to do any manual, unskilled, skilled, technical, operational, clerical or supervisory work. What are the conditions that can exclude an individual from being a worker?- The person is employed mainly in a managerial or administrative capacity; or
- The person is employed in a supervisory capacity drawing wage exceeding Rs. 18,000 per month or an amount as may be notified by the Central Government from time to time;