Now employees will not have to be on the company's support for social security, including provident fund (PF) and pensions. If the company does not register for PF and pension within a specific time, the employee will be able to register themselves. The Central Government will provide this facility to workers under the Labor Code on Social Security, 2018. The Central Government has drafted the Labor Code on Social Security 2018. After knowing the stackholder's suggestion on this draft, the government will present it to the Parliament. There is a proposal to provide social security to 50 crore employees in labor code.
According to the code order, the company will have the responsibility to register the employee for social security. If a company does not register for any social security within a specific time of time, then the penalty will be imposed on them. If the company does not register the employee at a particular time, then the employee will be given the facility to make a social security under the code itself. This facility will be implemented for the employees working in both the organized sector and the unorganized sector.
How to register?
A Universal Registration System will be created under the code drafts. All Active Workers' Registry will be scheduled in this system. Registration will be based on the basis. The Central Board of Trustees will decide the standards of registration. Apart from this, local authorities like Gram Panchayat and Municipal Corporation will also register registration in the field.
What is the current status?
Currently, only those working in the organized sector get PF and pension under the EPF Act. Companies or organizations coming to the EPF standard can open their own PF and pension accounts. If no company does not, then there is a provision of legal action against them. But workers can not register themselves with the EPFO for PF and pensions.
According to the code order, the company will have the responsibility to register the employee for social security. If a company does not register for any social security within a specific time of time, then the penalty will be imposed on them. If the company does not register the employee at a particular time, then the employee will be given the facility to make a social security under the code itself. This facility will be implemented for the employees working in both the organized sector and the unorganized sector.
How to register?
A Universal Registration System will be created under the code drafts. All Active Workers' Registry will be scheduled in this system. Registration will be based on the basis. The Central Board of Trustees will decide the standards of registration. Apart from this, local authorities like Gram Panchayat and Municipal Corporation will also register registration in the field.
What is the current status?
Currently, only those working in the organized sector get PF and pension under the EPF Act. Companies or organizations coming to the EPF standard can open their own PF and pension accounts. If no company does not, then there is a provision of legal action against them. But workers can not register themselves with the EPFO for PF and pensions.
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