MSME is going to ask for the phased implementation of the labor codes. It is the code that helps the workers get a good livelihood. We will share details about MSME’s new government labor codes implementation and the MSME’s increasing concern about the same below. There are certain criteria and levels that the employees check before employing at a particular place. Let us dive deep into the MSME’s new approach to the matter below.
MSMEs know for sure that the sudden implementation of the Labour codes will increase their expense many times. It will lead to difficulty for the MSME to handle the operations. Labor Codes prevent people from situations like poverty or more work for lower wages. Thus, the employees get their rights and a good decent environment for work. They get enough to have a good livelihood.
If the laborers do not get these rights, they will face labor exploitation all over. Many are still facing it even after the labor codes. Thus, the government will implement some further labor codes for the protection of the worker’s interests. However, the MSMEs are estimating that they will have a big loss upon the implementation of these labor codes all of a sudden altogether.
MSME constitutes the biggest segment in India. They will request the new government after the election for the implementation of the labor law codes in a phased manner. They believe that the burden will be more as the employees will receive gratuity and higher basic wages. Thus, it will be a livelihood wage, not a minimum wage. The minimum wage only assures that the worker is not in poverty. However, the livelihood wage ensures that the workers must have a good lifestyle or standard of living. Thus, the minimum wage will have to increase.
MSME believes that even if only livelihood wages come into practice, the wages will increase by 40%. It will lead to a severe impact on the Micro, Small, and Medium Industries. Thus, the medical insurance should depend upon the government’s scheme of Ayushman Bharat Scheme. It should not depend upon the MSMEs. Thus, there is a need for improvisation in the labor codes as per the MSMEs. However, it is unsure what the new government in power will decide. We hope you get enough details about MSME’s new approach below. Stay tuned for more information on our website.