AMCHAM’s Hyderabad Chapter, in association with EY, organized a virtual session on changes in labor codes on March 3rd. Mr.Aditya Modani and Ms. Surabhi Marwah of EY took the members through the new central labor laws relating to wages, social security, occupational safety and industrial disputes. It was discussed that the definition of wages is important to determine the minimum wage criteria and a reference for computing and calculating benefits and computation of overtime payable. The key aspects of the new laws would be the impact on gratuity pay outs, provident fund, etc. and great enforcement, stringent penal provision for non-compliance. The queries of participants were answered by the EY speakers.
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