close
Share with your friends

Revised norms relating to PF and gratuity under the Code on Social Security, 2020

Revised norms relating to PF and gratuity

In this issue of First Notes, we aim to summarise key features of the Code on Social Security, 2020

1000

Also on home.kpmg

Background

With an aim to rationalise labour laws prevalent in India, the Ministry of Labour and Employment proposed four labour codes. These labour codes relate to the following topics:

-The Code on Wages

-The Occupational Health, Safety and Working Conditions Code

-The Industrial Relations Code

-The Code on Social Security.

While the Code on Wages received the assent of the President of India on 8 August 2019, the other three codes were presented in the monsoon session of parliament held in September 2020.

New Development

Recently, the three labour codes i.e.  the Occupational Health, Safety and Working Conditions Code, the Industrial Relations Code and the Code on Social Security have been passed by the parliament and have also received the assent of the President of India on 28 September 2020.

In this issue of First Notes, we aim to summarise key features of the Code on Social Security, 2020 along with highlighting the key changes introduced vis-à-vis existing provisions under various laws.

To access the text of the Code on Social Security, 2020, please click here.

© 2021 KPMG Assurance and Consulting Services LLP, an Indian Limited Liability Partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

KPMG (Registered) (a partnership firm with Registration No. BA- 62445) converted into KPMG Assurance and Consulting Services LLP (a Limited Liability partnership firm) with LLP Registration No. AAT-0367 with effect from July 23, 2020.

For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal