North India Statesman
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Modi government may announce implementation of Labor Code rules in Budget 2025. Finance Minister Nirmala Sitharaman may announce a plan to implement the Labor Code in the upcoming budget. According to sources, these new labor codes will be implemented in four phases. The working hours of the employees will increase and they will also get the option to work 4 days a week. If the amount deducted in PF increases then the salary received every month may reduce.
The Labor Code will give all small businesses time to implement the new policies. If the government announces these codes in Budget 2025, then it will be implemented in the coming financial year. These codes will not only provide convenience to businessmen and companies but will also provide better social security to the employees.
In the first phase, companies with more than 500 employees will be required to follow this code.
In the second phase, medium companies with 100-500 employees will be brought under its ambit.
In the third phase, these codes will be implemented on small companies with less than 100 employees.
Under the new rules and scheme of the Labor Code, it will take two years for small businessmen to implement these rules. The Government of India has consolidated 26 central labor laws into four labor codes. Its main objective is to strengthen the traders and strengthen the social security of the employees.
