Benefits of Social Security Code - Ministry of Labour, Central
1 Benefits of The Code On Social Security, 2020 The Code on Social Security, 2020 is a legislation having been passed by both the Houses of Parliament, received the assent of President on 28th September, 2020 that consolidates and amends 9 existing social security laws to extend benefits to all workers, including those in the unorganized, organized, gig and platform workers. It aims to provide comprehensive social security schemes for life and disability insurance, health, and maternity benefits, and provident fund, while also introducing digitized processes and inspector-cum-facilitator roles to improve compliance and support for employers. Pro Workers Provisions 1.Gratuity to Fixed term employees (Section 53): Normally Fixed Termed Employees (FTE) are engaged for a short period like one year or two years or so. As a result, many of them cannot become eligible for gratuity for not fulfilling statutory five years continu...