: Labour Ministry releases draft rules on Social Security 2020 to invite comments #FinanceIndia #StockMarketNEWS Labour Ministry releases draft rules on Social Security 2020 to invite comments New

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Labour Ministry releases draft rules on Social Security 2020 to invite comments #FinanceIndia #StockMarketNEWS
Labour Ministry releases draft rules on Social Security 2020 to invite comments New Delhi, Nov 16 (KNN) The Union Ministry of Labour and Employment has notified the draft rules under the Code on Social Security, 2020, inviting objections and suggestions, if any, from the stakeholders.

Objections and suggestions can be submitted within a period of 45 days from the date of notification of the draft rules, the ministry said in a statement on November 15.

The draft rules provide for operationalization of provisions in the Code on Social Security, 2020 relating to Employees’ Provident Fund, Employees’ State Insurance Corporation, Gratuity, Maternity Benefit, Social Security and Cess in respect of Building and Other Construction Workers, Social Security for Unorganised Workers, Gig Workers and Platform Workers.

The draft rules also provide for Aadhaar based registration including self-registration by unorganised workers, gig workers and platform workers on the portal of the Central Government. The Ministry of Labour and Employment has already initiated action for development of such a portal, the Ministry added.

An unorganised worker, a gig worker, or platform worker needs to be registered on the portal with details as may be specified in the scheme to avail any benefit under any of the social security schemes framed under the Code.

The rules further provide for Aadhaar based registration of building and other construction workers on the specified portal of the central government and the state government or the state welfare board.

Where a building worker migrates from one State to another he shall be entitled to get benefits in the State where he is currently working and it shall be the responsibility of the Building Workers Welfare Board of that State to provide benefits to such a worker, propose the rules.

Provision has also been made in the rules regarding gratuity to an employee who is on fixed term employment.

Provision has also been made regarding the manner and conditions for exiting an establishment from Employees Provident Fund Organisation (EPFO) and Employees State Insurance Corporation (ESIC) coverage.

The procedure for self-assessment and payment of Cess in respect of building and other construction workers has been elaborated in the rules. For the purpose of self- assessment, the employer shall calculate the cost of construction as per the rates specified by the State Public Works Department or Central Public Works Department or on the basis of return or documents submitted to the Real Estate Regulatory Authority, the statement further read.

The rate of Interest for delayed payment of such cess has been reduced from 2 per cent every month or part of a month to 1 per cent.