ENA Economy 2017-07-27 06:14:41 <p><strong>New Delhi, July 27 (KNN)</strong> The new wage code bill, which ensures a minimum wage across all sectors, will soon be a reality as the Union Cabinet on Wednesday gave a nod to it. It is likely to be introduced in the Parliament today.</p> <p>Prime Minister Narendra Modi-led Union Cabinet cleared the wage code bill giving a push to long-pending labour reforms.</p> <p>As per the bill, the Centre will set a minimum wage and no states can pay its workers below the level stipulated by the Centre. States, however, are free to give higher minimum wage.</p> <p>The new minimum wage norms will be applicable for all workers irrespective of their pay.</p> <p>The Code on Wages Bill, which will ensure universal minimum wage for all industries and workers, has already been approved by the finance minister Arun Jaitley-led inter-ministerial panel on labour.</p> <p>The Code on Wages Bill also seeks to empower the Centre to set a minimum wage across sectors, and states will have to follow that. However, states will be able to provide higher minimum wage in their jurisdiction than fixed by the central government.</p> <p>Under the Code on Wages, four wage-related statutes will be amalgamated including the Minimum Wages Act, 1948, the Payment of Wages Act, 1936, the Payment of Bonus Act, 1965, and the Equal Remuneration Act, 1976.</p> <p>At present, there are about half a dozen definitions of wages in various Acts across the Centre and states.</p> <p>At present, the states are free to fix wages for various category of workers as there is no benchmark minimum wage which is applicable across the country.</p> <p>After the amendment, the states will have to maintain a benchmark minimum wage fixed by the Centre.</p> <p>The code will ensure universal minimum wage for all industries and workers. It will also cover those workers, who are getting monthly pay of higher than Rs 18,000.</p> <p>At present, laws on wages do not cover workers getting monthly wage of more than Rs 18,000.</p> <p>Besides, the minimum wage will be applicable on all classes of workers. At present, it is applicable for scheduled industries or establishments in the law.</p> <p>In July 2016, Rajasthan became the first state in India to introduce minimum wages for part time workers after which it became mandatory to pay 50 per cent of the prescribed a day minimum wage to a worker who works for less than four hours in a day. This brought even the part time workers under the Minimum Wages Act, 1948. <strong>(KNN Bureau)</strong></p> 17653 http://knnindia.co.in/news/newsdetails/economy/wage-code-bill-will-soon-be-a-reality-cabinet-clears-the-bill-likely-to-be-introduced-in-house-today 2017-07-27 06:14:41 knnindia.co.in