In today's Monsoon session of the Parliament, Lok Sabha is all set to table four bills. Here is a look at the key bills that will be taken up during the business hours:

In 2019, the ministry of labour and employment introduced four Bills to consolidate 29 central laws. These Codes regulate: (i) Wages, (ii) Industrial Relations, (iii) Social Security, and (iv) Occupational Safety, Health and Working Conditions. The government replaced these bills with new ones on September 19, 2020.

Occupational Safety, Health And Working Conditions Code,2020:

The bill is set to be tabled under the ministry of labour and employment.

Highlights of the bill:

According to the bill, the central government will continue to be the appropriate government for a central PSU even if the holding of the central government in that PSU becomes less than 50 percent post the commencement of the bill.

The bill classifies any dispute in relation to discharge, dismissal, retrenchment, or otherwise termination of the services of an individual worker to be an industrial dispute.

The bill requires the central and state governments to maintain or record the details of inter-state migrant workers in a portal. An inter-state migrant worker can register himself on the portal on the basis of self-declaration and Aadhaar.

Industrial Relations Code, 2020: The ministry of labour and employment introduced the Industrial Relations Code, 2020.

Highlights of the bill:

The bill requires all persons to give a prior notice of 14 days before a strike or lock-out.

The bill also prohibits strikes and lock-outs: (i) during and up to seven days after a conciliation proceeding, and (ii) during and up to sixty days after proceedings before a tribunal. This may impact the ability of workers to strike and employers to lock-out workers.

The bill adds new clauses which may become applicable in the cases of an epidemic. For example, the central government may defer or reduce the employer’s or employee’s contributions (under PF and ESI) for a period of up to three months in the case of a pandemic, endemic or national disaster.

Code On Social Security, 2020: This bill is also introduced under the ministry of labour and employment.

Highlights of the bill:

The bill replaces nine laws related to social security.

The National Commission on Labour (2002) (NCL) had emphasised the need for universal and comprehensive social security coverage to avoid deprivation of basic needs of workers, and recommended the simplification and consolidation of existing laws towards this end.

The Statement of Objects and Reasons of the bill states that it seeks to simplify and amalgamate the provisions of these laws in line with the NCL recommendations.

Factoring Regulation (Amendment) Bill,2020: The Factoring Regulation (Amendment) Bill, 2020 was introduced in Lok Sabha on September 14, 2020

Highlights of the bill:

The bill seeks to amend the Factoring Regulation Act, 2011 to widen the scope of entities which can engage in factoring business. It empowers RBI to make regulations.

The bill amends the definition of receivables to mean any money owed by a debtor to the assignor for toll or for the use of any facility or services.

The bill states that where trade receivables are financed through Trade Receivables Discounting System (TReDS), the details regarding transactions should be filed with the Central Registry by the concerned TReDS, on behalf of the factor.