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Draft Rules notified Under the Code on Social Security, 2020

  • IASbaba
  • November 16, 2020
  • 0
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Draft Rules notified Under the Code on Social Security, 2020

Part of: GS Prelims and GS-II – Policies and Interventions

In news

  • Union Ministry of Labour and Employment has notified the draft rules under the Code on Social Security, 2020.

Key takeaways 

  • The draft rules provide for Aadhaar based registration including self-registration by unorganised workers, gig workers and platform workers, Building and Other Construction Workers on the portal of the Central Government.
  • Provision has also been made in the rules regarding gratuity to an employee who is on fixed term employment.
  • The rules also provide for single electronic registration of an establishment including cancellation of the registration in case of closure of business activities.
  • Provision has also been made regarding manners and conditions for exiting an establishment from EPFO and 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.
  • The rate of Interest for delayed payment of such cess has been reduced from 2% every month or part of a month to 1%.

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