New Labour Codes: Thorough understanding is required before implementation of the new regime

financialexpress.com:

Implementation of employment policies is a crucial aspect of ensuring fair labour practices and protecting the rights of both employers and employees. The new Labour codes aim to balance the welfare of employees and ease of doing business in India. However, the transition to the new regime requires a thorough understanding of the laws applicable and their implications.

The new labour codes are a consolidation of 29 statutes on labour that have required a critical reformation since decades. With all the speculation for the implementation of the labour codes, which is again on a halt, understanding the implications of the new codes is of paramount importance, regardless of whether one falls on the employer or employee side of the field.

As ease of doing business is one of the top priorities in a rapidly growing economy with one of the largest workforces in the world, these new codes may form an essential tool in facilitating the pursuit of this priority.

While a few inconsistencies remain, one can be prepared to witness the new labour codes come into force next year. Various states and union territories have come up with draft rules under each labour code and pre-published them for public consultations.

The Four Codes are:

The policies at the employer level are typically established by governments at various levels (national, regional, or local) and can also be developed by individual organizations. Here are some key steps and considerations for implementing employment policies at the organisational level:

1. Policy Development

Employer should ensure that the policies comply with all relevant or existing labor laws and regulations in the jurisdiction. Seek legal counsel if necessary to make sure they are up to date and