The Code on Wages, 2019 is likely to come into effect before April this year. The Code on Wages Act, 2019 aims to amend and consolidate laws relating to wages and bonus. It also aims to simplify and rationalise the subsumed four legislations; the Payment of Wages Act, 1936; the Minimum Wages Act, 1948; the Payment of Bonus Act, 1965; and the Equal Remuneration Act, 1976.
The government has promised minimum wages for all workers in the country with the new Code. The Code will also change the salary structures of those working in the formal sector. To understand the nuances of the new law, Kunika Balhotra, Research and Communications Officer for Suno India spoke withRituparna Chakraborty, Co-Founder & Executive Vice President of TeamLease.