New Labor Law: With the implementation of the New Labor Law in the country, there will be changes in many areas. Once the labor law comes into force, no employee will be able to accumulate more than 30 days of paid leave in a calendar year.
With the implementation of the New Labor Law in the country, there will be changes in many areas . Once the labor law comes into force, no employee will be able to accumulate more than 30 days of paid leave in a calendar year. In cases where paid leave exceeds 30 days, the company will have to pay for the additional leave. ‘Employees’ in this case do not mean those in managerial or supervisory roles.
Leave rules will change (Carry Forward Leave)
Section 32 of the Occupational Safety, Health and Working Conditions Code 2020 (OSH Code) deals with taking of annual leave, carry forward and leave encashment. Under section 32(vii), an employee is allowed to carry forward a maximum of 30 days of annual leave to the next calendar year.
Will be able to carry forward 30 holidays
If the annual leave exceeds 30 at the end of the calendar year, the employee can avail of the remaining leave. Then the employee can carry forward 30 leaves. Can take money in lieu of remaining holidays. Soumya Kumar, partner of law firm INDUSLAW, has told this to the Economic Times. With the implementation of the new labor law, employees can avail more than 30 leaves. He can take money from the company in exchange for the remaining holidays after 30 days.
There will be no lapse of holidays (No lapse leave)
Annual leave of employees will no longer lapse . Leave lapse means that currently most companies do not carry forward leave from one calendar year to the next year nor do they pay money in lieu of it. If an employee takes leave in that one year then it is fine, otherwise that leave is considered to be over.
A new calendar of holidays starts with the new calendar year. Many companies allow employees to carry over some leave to the next year. The rules for annual leave and leave encashment come under the OSH Code. These will apply only to workers. Employees who are not in managerial or supervisory roles.
New labor laws will come
4 Labor laws include ‘Occupational Safety, Health and Working Conditions, Industrial Relations Code and Social Security Code etc. These laws have already been passed by Parliament. The government has also notified them. Now the employees are waiting for the implementation of these new labor laws.