The numerous labor laws covering social security, wage laws, occupational health and safety, and industrial relations have been consolidated into four codes^ — to simplify employers’ compliance, expand certain protections to new industry sectors and categories of workers, and establish stronger enforcement mechanisms.
It is becoming imperative for companies to understand the nuances of the four codes from an operational perspective, impact on their financial statements as well as changes to the wages and retiral costs of its employees.
Our advisory support is distributed in three phases:
Phase 1 – Impact assessment on areas like cost for employer, employee benefits, regulatory compliance , contracted employees, etc.
Phase 2 – Review and revision of employees’ hiring policy, salary structure, HR and payroll policies, third party contracts, etc.
Phase 3 – Formulation of labour law compliance management framework.