Skip to main content

Labour meet proposes social security schemes for workers

No consecsus as yet on social security code
Even though the Indian Labour Conference ( ILC) could not build a consensus on forming a labour code on social security schemes, it recommended aslew of measures to broaden their coverage.
The two- day conference, atri- partite platform of trade unions, industry and the government, concluded here on Tuesday with a series of recommendations.
It recommended that Employees’ State Insurance Corporation ( ESIC) coverage be expanded to include the unorganised workers by reducing the threshold of coverage. At present, firms with 10 workers are covered under this law and the Union labour ministry will reduce this threshold limit. On- site construction workers will soon become a part of the ESIC Act.
At present, construction workers directly hired by a factory, those who work on the premises of a factory, and technical workers such as engineers get health benefits from ESIC. However, workers hired through agencies or those working on a construction site are not covered.
Besides, a medical scheme for Employees’ Provident Fund ( EPF) pensioners has been recommended. The ILC also recommended along- pending demand of the trade unions to link the EPF pension with inflation.
“EPF pension should be enhanced and linked with price index,” said the recommendation.
However, the labour code on social security might be delayed. The Union labour ministry is in the process of clubbing 44 labour laws into five codes – a move opposed by the trade unions.
Business Standard, New Delhi, 22nd July 2015

Comments

Popular posts from this blog

Data storage norm splits digital payments industry

Data storage norm splits digital payments industry  India’s nascent digital payment industry could be thrown into disarray due to the demand by the Reserve Bank of India (RBI) that all user data be stored within the country, fears an industry grouping, which has termed the decision as “heavy-handed”, even as others, including the country’s largest digital payment provider Paytm, have hailed the move.  In a bid to narrow the growing schism, the industry is planning to send a formal representation to the regulator highlighting its concerns, a top official told ET.  “We are trying to build a consensus on the issue," said the person adding that the representation to the central bank will be ready this week.  RBI on April 6, mandated all payment companies—global and local—to set up data storage facilities within India by October. The stringent six-month deadline has attracted the ire of several sections of the industry that fear it will lead to a disruption of wel...

Offer’s for all of you

Great Bumper Dhamaka Offer’s for all of you... It's Time to see your Business Online, WebeCreator Offer Website Designing with domain & Email @ nominal charges. For a year For More information visit us http://goo.gl/KlpppF call on 9890151261/9773197533  drop a mail to sales@webecreator.com

Sebi to finalise options in commodities today

The Commodity Derivatives Advisory Committee of the Securities and Exchange Board of India ( Sebi) will meet on Friday with senior officials of the latter, to give a final shape to the rules on options trading in commodity futures, beside revising the warehousing norms to ensure good delivery on settlement. The decision taken, after discussing with the advisory committee, will be placed before the regulator’s board, to finalise the regulations. According to knowledgeable sources, three commodities in each segment, agricultural and non- agricultural, have been proposed for introducing options. It appears commodities from the soya and guar segments are preferred in the former. From the non- agri segment, it is likely that gold, silver and crude oil will be finalised. All these These have better liquidity and both the National Commodity and Derivatives Exchange and the Multi Commodity Exchange, respectively, will be able to introduce the options. In the equity segments, options ar...