ESI – Background Employees’ State Insurance Scheme [‘ESI Scheme’] is a comprehensive social security scheme devised to protect employees and their dependents, covered under it, against contingencies, such as sickness, maternity, and death or disability due to employment injuries. The ESI Scheme is based on the principle of ‘pooling of risks and resources’, wherein that section of the population, which is exposed to risks of the same nature, comes together to mitigate the physical and…
Introduction The Code on Social Security, 2020 was born out of the recommendations of the Second National Commission on Labour, which stated in its report that the current set of labour laws must be amalgamated based on subject-matter. The Code was introduced in December 2019 and the Parliamentary Standing Committee submitted its report on 31st July 2020. Thereafter, a fresh Bill was introduced, namely the current Code on Social Security, 2020 that aims to facilitate…
Introduction The Parliament pushed through its long-standing reform initiative on Wednesday, with the three Codes- the Code on Social Security, 2020, the Occupational Safety, Health and Working Conditions Code, 2020 and the Industrial Relations Code, 2020 being passed by both houses. Since then, Simpliance has received numerous queries regarding the date when these Codes come into effect, whether the Codes are already law and can be enforced and questions pertaining to the changes that have…
Introduction The Employees’ Provident Fund Organization is one of the world’s largest social security providers which covers approximately 10,24,188 establishments with 1,934 lakh members as of the financial year 2016-17. It administers three major schemes, namely: – Employees’ Provident Funds Scheme Employees’ Pension Scheme Employees’ Deposit-Linked Insurance Scheme Prior to the onset of COVID-19, PF contribution rates were fixed at 12% for both employers and employees. This figure excludes administrative charges that are borne solely…
The Code on Social Security was introduced in the Lok Sabha on 11th December 2019 and referred to the Parliamentary Standing Committee on Labour on 23rd December 2019. Following an extension of three months from the original date of presentation, the report was adopted on 29th July 2020. This series of blogs by Simpliance covers the important concerns, recommendations and suggestions made by the Parliamentary Committee as well as examine some of the justifications provided…
The Code on Social Security was introduced in the Lok Sabha on 11th December 2019 and referred to the Parliamentary Standing Committee on Labour on 23rd December 2019. Following an extension of three months from the original date of presentation, the report was adopted on 29th July 2020. This series of blogs by Simpliance covers the important concerns, recommendations and suggestions made by the Parliamentary Committee as well as examine some of the justifications provided…