The Ministry of Labour and Employment on 15th June 2021 has sought feedback on the draft rules relating to Employee’s Compensation under the Code on Social Security, 2020 which was notified on 3rd June 2021. The objections and suggestions are required to be submitted within a period of 45 days from the date of notification of the draft rules.
The Code on Social Security, 2020 amends and consolidates the laws relating to social security with the goal to extend social security to employees and workers in the organized as well as unorganized sectors.
As per the draft rules, in case the payment of compensation amount is delayed, the employer will be liable to pay interest at the rate of 12 percent per annum from the due date till the date the compensation is made.
