Demystifying the Changes - Three New Labour Codes 2020
The new versions of the three labour code bills are being implemented to merge 25 central labour laws into three broader legislations: Industrial Relations Code, 2020 – Includes 3 laws Occupational Safety, Health and Working Conditions Code, 2020 – Includes 13 laws Code on Social Security, 2020 – Includes 9 laws Why are the changes being proposed: Simplify & modernise labour regulations Facilitate employment growth while protecting worker rights Economists have long argued that India’s outdated labour laws need change. According to the World Bank, with less restrictive laws, India could approximately add on an annual basis “2.8 million more good quality formal sector jobs”