Summary
The Code on Wages, 2019 is a landmark legislation that replaces four key labor laws governing wage and bonus payments in India. The act aims to regulate and simplify the payment of wages and bonuses, and ensure that workers receive timely and adequate compensation. It covers all employees in the organized as well as unorganized sectors, and establishes a statutory floor wage that will be determined by the central government. The act also introduces provisions for the payment of overtime wages, and makes it mandatory for employers to maintain registers of workers and wages. Additionally, it provides for the constitution of a Central Advisory Board and State Advisory Boards to advise the government on matters related to wages and bonus payments.
