Wage reforms needed, but implementation should be stable: Staffing Federation
The Union government’s new labor code, a set of four updated Acts and Regulations, will come into force from July 1, but with the deadline so close, India’s apex employees body has said the country is yet to implement such a broad-scale is not ready to. Labor reform in one go.
The Indian Staffing Federation (ISF) has said that the central government should implement labor reforms one by one, segment-wise or in a phased manner, to improve India’s employment and economic outlook. Hindu,
“Our appeal to the central government is to implement labor codes one by one or section-wise and not move at all. The roll-out of the code in a phased manner would be a start and pave the way for more codes.” More sections to be introduced,” Lohit Bhatia, president, ISF, said.
Although the ISF maintains that new labor codes are necessary to revive foreign capital and India’s economic recovery, a sudden introduction of all four codes at once may not achieve that goal. But while the apex body that constitutes organized staffing companies in India has spoken out against hasty implementation, India Inc. has recommended the opposite.
Indian businesses, in consultation with states, have asked for the new labor codes to be implemented at the earliest. The report said that improving ease of doing business and formality of employment will go a long way in helping businesses.
CII Chairman R Mukundan said, “These codes ensure substantial improvements towards ease of doing business such as electronic submission, online responses, deemed approvals, rationalization of approvals, elimination of third-party testing and multiple clearances and hence It should be started immediately.” National Committee on Industrial Relations.
“The implementation of the code will be a win-win situation for all stakeholders. We want the code to see the light of day as soon as possible,” it added. shishir jaipuriaPresident of All India Association of Employers of Federation of Indian Chambers of Commerce and Industry.
Four labor codes – on wages, industrial relations, social security and occupational safety and health (OSH) – were passed by Parliament in September 2020. This will change the working hours, pay structure and PF contribution along with many other changes.