President Pranab Mukherjee amends Payment of Wages Act
Posted on: 18/Feb/2017 11:03:24 AM
According to the Payment of Wages Act, 1936, the wages to the employees should be paid by cash or coins or both. The central government after demonetizing the currencies encouraged people to go for cashless transactions.
As per this, the government has requested to bring some changes in the pattern of disbursing salaries to its employees. It was advised to pay the wages directly to the employees bank account or through cheque or by digital transaction.
In connection with this an ordinance was passed. The Bill was passed in Lok Sabha on February 7 and in Rajya Sabha, the next day. After this, the Bill was sent for the President’s approval. President Pranab Mukherjee has recently given assent to the Payment of Wages (Amendment) Act, 2017. Now the central and state governments can now specify industrial units and other establishments which will have to pay wages either through cheques or by electronically transferring into the workers’ bank accounts,
