Consolidates four laws relating to wages and remuneration.

• Aim: To strengthen workers' rights while promoting simplicity and uniformity in wage-related compliance for employers.
• Key Provisions
  • Universal Minimum Wages: The Code establishes a statutory right to minimum wages for all employees across both organized and unorganized sectors.
    • Criteria for Wage Fixation: skill levels, geographic areas, and job conditions such as temperature, humidity, or hazardous environments.
  • Introduction of Floor Wage: A statutory floor wage shall be set by the Government based on minimum living standards, with scope for regional variation. 
    • No state can fix minimum wages below this level, ensuring uniformity and adequacy nationwide.
  • Compensation: Mandates timely payment and provides for overtime compensation at least 2x the normal rate.
  • Simplification: Standardises key definition e.g. 'wages',' employee', across the entire legislative framework, reducing compliance confusion.