Anda di halaman 1dari 7

Requirement of Labour

Reforms
- A perspective from trade unions
Labour Productivity - Venkatesh
Labour Compensation - Jayendu
• Minimum Wage fixing convention
 India has not ratified International Labor Organization's minimum wage fixing convention C131(code)
 The labor unions are demanding a minimum wage of 18000 for all workers which is not agreed upon by
government & industrialists
 Hence they very fact that there are labor reforms towards labor betterment stands void

• Payment of bonuses
 In the new amendment, employees drawing salary or wage not exceeding Rs. 15,000/- per month in any
industry are eligible for payment of Bonus as opposed to Rs 10,000/- before amendment.
 We can very well see there has been increase in maximum salary drawn for being eligible for bonus, the labor
laws are becoming more employer friendly as opposed to more labor friendly
Labour Retrenchment / Layoff - Shivam
Additional Labour Perks - Pratish
• Pension / Provident Fund Schemes
 The labour laws are quite constrained in terms of providing retirement benefits to employees.
 The most affected sector is the unorganised sector where the employees are always mobile from one location to other.
 The government can step in and look after the retirement benefits of employees by leveraging the Digital India and
JAM (Jan Dhan, Aadhar and Mobile) campaign and transferring the benefits directly to the employee irrespective of
his/her location
 Sometimes the returns on pension schemes are very less. The institutional authority can float a part of the pension
fund in market to get better returns. It will unburden the companies from an additional task of providing and managing
better returns.
• Insurance Policy
 The lackadaisical insurance policies have created an ambiguous environment for both the firms as well as for
employees
 Legal clarity is needed which can be achieved by passing regulations post taking suggestions from all the stakeholders
like expert groups, labour institutions, NGO’s, employees etc.
• Medical Policy
 The medical policy may include the reimbursement of medical expenses, maternity leave, medical leave etc.
 It may also include providing medical facilities in case of an isolated township near a manufacturing plant
 These benefits generally do not cost an employer anything, except in terms of the employee's away from work.
 Various NGO’s can be roped in the process to monitor and provide medical benefits to the labour workforce thus
unburdening companies from this responsibility.
Ethics in Labour Law - Saurabh
• Child Labour
• Women in Workforce