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New Delhi, Nov 23 (IANS) The new Code on Wages that has now come into effect, promotes fairness, equity, and inclusivity in India’s labour market. By ensuring uniform wage standards and social security, it safeguards both workers’ rights and employers’ interests. Overall, it strengthens economic justice, encourages formalisation, and enhances the dignity of labour, according to an official statement issued on Sunday.

Section 5 of the Code on Wages, 2019 establishes a statutory right to minimum wages for all employees, extending its coverage to every sector, both organised and unorganised. Earlier, the minimum wages applied only to scheduled employment, covering roughly 30 per cent of the workforce.

The Code ensures minimum pay for every employee, irrespective of industry, category, or nature of employment. It provides a uniform legal safeguard nationwide, reducing wage disparity and benefits vulnerable groups like casual employee, daily wagers, and migrant labourers, the statement explained.

It standardises definitions of key terms and streamlines procedures, reducing ambiguity and ensuring faster, time bound justice for employers. The bigger aim of the labour reforms is to drive economic growth through generation of decent employment opportunities for all, the statement explains.

The second National Commission on Labour had recommended that the existing Labour Laws should be broadly grouped into four or five Labour Codes on a functional basis. Consequently, the Code on Wages, 2019 is one of the four codes of the labour laws that has been enacted.

The Code safeguards employee interests through fair wages, social security, and protection against exploitation, ensuring dignity and stability at work. It supports women workers through equal pay and representation, fostering inclusive participation. By ensuring fair wages and social security for all workers, it drives productivity and labour welfare.

The Labour Reforms simplify the registration and licensing framework by introducing the concept of a Single Registration, Single License, and Single Return, thereby reducing the overall compliance burden to improve employment.

The Code on Wages, 2019 has reduced the number of rules from 163 to 58, number of forms from 20 to 6 and number of registers from 24 to 2.

The provision reduces regional wage disparities, provides social justice, prevents wage undercutting by states, and promotes equity across the country.

Section 9 read with Rule 11 of the Code introduces floor wages as a statutory provision. The baseline wages will be fixed by the Central government on the basis of minimum living standards of an employee including food, clothing etc. It will be revised at regular intervals. State governments must ensure their minimum wages are not lower than this floor level.

The code will reduce migration of labour from one state to another due to reduced wage differentials and prevents wage undercutting by states, and promotes equity and growth across the country.

Minimum wage rates for timework, piece work for different wage period i.e. by hours, day or by month to be fixed by the appropriate government. It will be based on the skill of employees, and geographical area and arduousness of work. The government shall revise the minimum rate of wages ordinarily at an interval not exceeding five years.

The code also imposes limits on working hours to safeguard employee health, prevent over-exploitation, promote work-life balance and improve productivity.

The provisions relating to timely payment of wages and un-authorised deductions from wages, which were earlier applicable only in respect of employees drawing wages up to Rs 24,000 per month, are now applicable to all employees irrespective of the wage ceiling. The provision ensures fairness in wages as every employer, regardless of salary and designation, is covered equally under the law.

Besides, the wage code stipulates that employers shall provide wage slips, electronically or in physical form, on or before wage payment, ensuring transparency and reducing disputes. This protection extends to employees in both organised and unorganised sectors including daily wagers and contracts employees.

–IANS

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Neemuch, June 10 (IANS) The Prime Minister Employment Generation Programme (PMEGP) has emerged as a game-changer for aspiring entrepreneurs across the country, instilling confidence and promoting self-reliance by providing financial support in the form of loans and subsidies to set up small and micro-scale industries.

This major credit-linked subsidy programme is aimed at creating self-employment opportunities through the establishment of micro-enterprises in the non-farm sector.

It is implemented by the Khadi and Village Industries Commission (KVIC), which acts as the nodal agency at the national level. At the state level, the scheme is executed through State KVIC Directorates, State Khadi and Village Industries Boards (KVIBs), District Industries Centres (DICs), and partner banks.

One of the key objectives of Prime Minister Narendra Modi’s flagship scheme is to empower citizens to become financially independent, thereby contributing to the vision of a Viksit Bharat by 2047.

In Madhya Pradesh’s Neemuch district, numerous residents have expressed their gratitude to the Prime Minister, crediting PMEGP for helping them become self-reliant and enabling their businesses to grow.

Locals say the scheme has not only uplifted individual entrepreneurs but has also helped generate jobs at the grassroots level.

Hundreds of youth in both urban and rural Neemuch have taken advantage of the scheme to set up successful businesses, in turn providing employment to others.

Under PMEGP, eligible individuals can access loans of up to Rs 50 lakh for manufacturing sector ventures and up to Rs 20 lakh for service sector businesses, with subsidies of up to 35 per cent.

Speaking to IANS, Neemuch District Trade and Industry Centre’s General Manager, Yogita Bhatnagar, termed PMEGP an “ambitious” self-employment initiative of the Central government.

“This is a very good scheme of the government under which loans of up to Rs 50 lakh for manufacturing and Rs 20 lakh for the service sector can be sanctioned. In urban areas, males from the general category receive a 15 per cent subsidy, while those in rural areas get 25 per cent. Other categories such as Backward Classes, minorities, women, Scheduled Castes, and Scheduled Tribes receive subsidies up to 25 per cent in urban and 35 per cent in rural areas,” she said.

She noted that several service-sector units established under the scheme are now thriving. “Many of them are even planning expansions,” she added.

Jeet Kilawala, a Neemuch-based entrepreneur engaged in the Ashwagandha and Chia seed business, shared how he scaled up his work through PMEGP.

“I began this business in 2012 with just one or two bags. In 2018-19, I decided to set up my own plant in the industrial area to improve product quality and cater to international buyers. A friend told me about PMEGP, after which I took a loan through the Industry Department and installed modern machines. The support from this scheme helped me expand significantly. I sincerely thank PM Modi for launching such a great scheme for the youth,” he told IANS.

Another entrepreneur, Harishankar Bherawat from Jawad in Neemuch, told IANS that he set up a Sortex plant named Kanha Masala Udyog after receiving a Rs 26 lakh loan under PMEGP.

“The scheme offered a 35 per cent subsidy, which helped a lot in reducing the interest burden. After establishing the plant, I also employed three others. My financial condition has become much stronger,” he said.

He highlighted that various schemes introduced by the Centre are enabling youth to become financially empowered.

“Many have created employment through such schemes. I want to thank the Prime Minister for continuously launching initiatives that inspire the youth to generate more jobs,” he added.

Geeta Suthar, a woman entrepreneur from Neemuch, started a PVC window manufacturing business with the help of a Rs 22 lakh loan from the Bank of India under PMEGP, which included a Rs 5 lakh subsidy.

“I employed five people in my unit. I am extremely grateful to the Prime Minister. My business has progressed because of the PMEGP scheme,” she said, speaking to IANS.

Lokesh Verma, who runs a tofu (soya paneer) business in Neemuch, said he availed benefits under PMEGP and the Pradhan Mantri Rojgar Srijan Yojana.

“I used the loan to purchase machines and take my business forward. Now, my unit has become profitable. I thank the Prime Minister for this support. I had taken a loan of Rs 5.5 lakh under PMEGP, which also included a 15 per cent subsidy,” he told IANS.

The PMEGP is enabling individuals across districts like Neemuch to become entrepreneurs and job creators, fulfilling the larger national goal of self-reliant villages and a robust rural economy.

–IANS

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Kochi, Feb 9 (IANS) Confident Group Managing Director T.A. Joseph on Monday sought to allay concerns over the company’s stability following the death of its founder and chairman C.J. Roy, asserting that the real estate major remains financially sound, operationally active, and unaffected by the tragic incident.

Addressing the media in Kochi, Joseph said Roy’s absence would not disrupt projects or client commitments, stressing that Confident Group is a “zero-debt company” with no borrowings from banks, private institutions or individuals.

“We have always done straight and fair business. Our model is simple—sales, collection and construction—and the trust of our customers is our biggest strength,” he said.

Joseph confirmed that work has resumed across all project sites.

In Bengaluru, he said, only painting work in two towers remains and will be completed soon.

The company currently has 26 ongoing projects, while in Kerala, 12 projects were announced two months ago, of which eight have already been launched.

Two more projects are scheduled for launch in the State on Saturday.

Refuting speculation of financial stress, Joseph said the company had weathered earlier economic shocks without difficulty.

“We had no issues during demonetisation or the Covid period. In fact, when the world was shut for a month during Covid, we did business worth Rs 18 crore,” he said, adding that the company had received Rs 25 crore in collections over the past week and had no pending payments.

On allegations of harassment by Income Tax officials, Joseph denied any such thing and said the officials were only doing their job and that the Group was satisfied with the ongoing Special Investigation Team (SIT) probe into the circumstances leading to Roy’s death.

He clarified that statements made earlier by the chairman’s brother regarding alleged harassment were based on incomplete information and had been corrected.

Joseph also dismissed reports suggesting business links between Roy and film personalities, stating that the chairman’s relationships with actor Mohanlal and producer Antony Perumbavoor were purely personal.

While acknowledging Roy’s fondness for cinema and his practice of advancing money to actors, he said there were no business interests involved.

Describing Roy as a strong-willed individual and a devoted family man, Joseph said the chairman spoke daily with his wife and children multiple times.

He also denied media reports about suicide notes, saying only a few personal directives to the family were found and were handed over directly to them and later to the SIT.

Joseph thanked the media for its support, noting that barring a few online channels, most outlets had stood by the Group during a difficult time.

He added that the Kerala Chief Minister had also expressed support, reinforcing confidence in the company’s future.

–IANS

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