The Central Government of India has codified 29 central labor laws into four codes to streamline and simplify the labor regulations in the country. We bring you an exclusive Indian Labor Laws Infographic to help you navigate the changes.
Are You Prepared for the Changes?
The Ministry of Labor and Employment of the Central Government of India is getting ready to implement a set of four labor codes aimed at streamlining and simplifying the labor regulations in the country. Organizations have started to prepare for the implementation by evaluating the impact of the reforms.
In fact, According to Grant Thornton Bharat’s ‘Industry Expectation Survey on New Labor Codes’, 43% of the organizations in India have already started internal evaluations to prepare for the implementation. For better planning, it is crucial for organizations to assess the financial impact of areas of major change, like gratuity, leave encashment, statutory bonuses, etc.
Not sure how to get started? Here is an Infographic based on the Indian Labor Laws to help you understand the major changes, how you can get a head start, and how HR technology can be leveraged to ensure seamless implementation.
Key points covered in the following Infographic on the new Indian Labor Laws:
- The Four Labor Codes
- The reasons for the Labor Laws being reformed
- The major changes under each new labor code
- How organizations can prepare for the reforms
- How HR technology can help with a smooth transition
What Will Be the Impact of the Labor Laws in India?
The labor law reforms will have a significant impact on businesses in India. For instance, the changes in the composition and payment schedules of wages will affect the payroll structure throughout the organization; the configuration of new overtime, shift, and leave policies, along with accommodating changes in working hours, will require significant planning; and more. We have highlighted the major steps organizations can take to gear up for an easier transition, in this infographic on the Indian Labor Law Reforms.
To learn more about the labor law reforms in India, get insights into their impact on businesses, and explore how Darwinbox can help you implement them seamlessly in your organization, download this comprehensive guide.
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