Thursday, April 6, 2017

Payment of wages(Amendment) Act 2017

Industrial units and other establishments have to pay wages either through cheques or by electronically transferring into workers' bank accounts, as per a new law passed by  President Pranab Mukherjee. It will allow industries to pay wages to workers earning up to Rs. 18,000 per month, without taking their explicit consent as required under present Act. The new law has amended the Payment of Wages Act, 1936, which mandated payment of all wages either in coin or currency notes, or both. Before introduction of a bill to amend the 1936 Act on February 3, an Ordinance was promulgated by the President on December 28, 2016. The Bill was passed in Lok Sabha on February 7 and in Rajya Sabha on February 8.

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