Social Security Code, 2020
Social security code, 2020 Meaning: Collective medical and old-age benefits are provided by the employer and the government in the form of provident funds, insurance, pensions, maternity benefits, gratuity, etc. It guarantees social well-being for them in return for the contribution that they would have made to the economy. For this eight central kaws have been merged together to form the social security code, 2020 ( for organized sector only). However, the code does have some major shortcomings : It keeps most of the informal workers from the ambit, who contributes 91% of the total workforce. Therefore it would be better than the security code is undiversified for it to produce a better outcome. Although the code allows the respective state governments to come up with their own scheme for the unorganized sector workers, there is a lot of ambiguity and confusion with regard to the overlap on the jurisdiction and the responsibility of the central and the state government. It mandates