Chennai : Roundtable Session On Code On Wages

The Indo French Chamber of Commerce and Industry (IFCCI) in association with PSA Legal Counsellors, conducted a roundtable seminar on Code on Wages on the 6th of March 2020 at Hotel Novotel Chamiers, Chennai. Ms Arya Tripathi, Principal Associate, PSA Legal Counsellors led the discussion by session sharing knowledge on Code on wages

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The Indo French Chamber of Commerce and Industry (IFCCI) in association with PSA Legal Counsellors, conducted a roundtable seminar on Code on Wages on the 6th of March 2020 at Hotel Novotel Chamiers, Chennai.                

Ms Arya Tripathi, Principal Associate, PSA Legal Counsellors led the discussion by session sharing knowledge on Code on wages

 

The session was commenced with the welcome remarks delivered by Mr Joel Verany, VP IFCCI, Chennai and VP, Citroen Cars. Followed by, Founder & Managing Partner, PSA Legal Counsellors, Ms Priti Suri’s address to the participants.

Ms Arya Tripathi, Principal Associate, PSA Legal Counsellors keynote speaker for the session commenced the interactive roundtable session on Code on wages wherein she discussed in detail the following 

The key areas covered were

  1. Introduction to the Code on Wages and the key objectives of the Code, Amalgamation and simplification of the existing four wage related acts- Minimum Wages Act, Payment of Wages Act, Payment of Bonus Act, Equal Remuneration Act.
  1. Unification of laws regarding payment of wages and bonus for those employed in manufacturing enterprise, trade or business and in an industry.  Major changes to meanings and definitions, meaning of Wages, Employer, Worker, Contract Labourer, Employee as per the Definition of Minimum Wages and the newly added concept of Floor Wages
  1. Assessment of Wages, introduction of a single definition of wages, rationalizing the method and procedure for fixation of minimum wages.
  1. Object and reason for the Code on Wages – To remove multiple concepts, to use technology for enforcement, to widen the scope of minimum wages, to ease compliance.

The discussion was coupled with an engaging Q&A session with the speaker. The vote of thanks was delivered by IFCCI, wherein IFCCI Chennai’s future events were briefed to the companies present, and our knowledge partner PSA Legal Counsellors, was thanked. The session was concluded after a networking session with the delegates.

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