Draft Social Security code is out: Five things you need to know

New Delhi: After years of deliberations, the union government has finally circulated the draft social security code, a key labour law proposal that seeks to amalgamate a clutch of existing laws and proposes several new initiatives including universal social security for unorganized sector workers and, insurance and health benefits for gig workers including the Ola and Uber drivers. Here are the five key things in the draft code: 1) Insurance, PF, life cover for unorganized sector employees: The draft code says the “Central Government shall formulate and notify, from time to time, suitable welfare schemes for unorganised workers on matter relating to life and disability cover; health and maternity benefits; old age protection; and any other benefit as may be determined by the central government”. “The Central Board shall be a body corporate, having perpetual succession…” 3) Benefits for Gig workers: Millions of gig workforce in India, often referred as lonely in the workplace, may soon get life and disability insurance, health and maternity benefits among others as the union government is formulating a labour code that propose such provisions. As per the draft social security code, the “Central Government may formulate and notify, from time to time, suitable social security schemes for gig workers and platform workers" and such schemes would encompass issues like “life and disability cover", “health and maternity benefits", “old age protection" and “any other benefit as may be determined by the Central Government".