: Govt seeks feedback on employee’s compensation under Code on Social Security #FinanceIndia #StockMarketNEWS Govt seeks feedback on employee’s compensation under Code on Social Security New Delhi,

@StockMarketNEWS Thu 17 Jun, 2021

Posted in: #FinanceIndia #StockMarketNEWS

Govt seeks feedback on employee’s compensation under Code on Social Security #FinanceIndia #StockMarketNEWS
Govt seeks feedback on employee’s compensation under Code on Social Security New Delhi, Jun 16 (KNN) Ministry of Labour and Employment has notified the draft rules relating to Employee’s Compensation under the Code on Social Security, 2020 on June 3rd, 2021 and also invited objections and suggestions, if any, from the stakeholders.

Such objections and suggestions are required to be submitted within a period of 45 days from the date of notification of the draft rules, an official statement said on Tuesday.

The Code on Social Security, 2020 amends and consolidates the laws relating to social security with the goal to extend social security to employees and workers in the organised as well as unorganised sectors.

Chapter VII (Employee’s Compensation) of the Social Security Code, 2020 envisages, inter-alia, provisions relating to employer’s liability for compensation in case of fatal accidents, serious bodily injuries or occupational diseases.

The draft Employee’s Compensation rules notified by the Central Government provide for the provisions relating to manner of application for claim or settlement, rate of interest for delayed payment of compensation, venue of proceedings and transfer of matters, notice and manner of transmitting money from one competent authority to another and arrangements with other countries for the transfer of money paid as compensation, it added.

The draft rules under the Code on Social Security, 2020 relating to Employees’ Provident Fund, Employees’ State Insurance Corporation, Gratuity, Maternity Benefit, Social Security and Cess in respect of Building and Other Constructions Workers, Social Security for Unorganised Workers, Gig Workers and Platform Workers and Employment Information were notified on November 13, 2020.

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