The Industrial Relations Code, 2020
Section 83. Worker re-skilling fund
In simple words
- The appropriate Government sets up a worker re-skilling fund s. 83(1).
- For every retrenched worker, the employer contributes fifteen days’ wages last drawn, or another number of days the Central Government notifies s. 83(2)(a).
- The fund credits that amount to the worker within forty-five days of the retrenchment s. 83(3).
An explanation, not the law. The official text below prevails.
Official text
(1) The appropriate Government shall, by notification, set up a fund to be called the worker re-skilling fund (hereafter in this section referred to as "fund").
(2) The fund shall consist of—
(a) the contribution of the employer of an industrial establishment an amount equal to fifteen days wages last drawn by the worker immediately before the retrenchment, or such other number of days as may be notified by the Central Government, for every retrenched worker in case of retrenchment only;
(b) the contribution from such other sources as may be prescribed by the appropriate Government.
(3) The fund shall be utilised by crediting fifteen days wages last drawn by the worker to his account who is retrenched, within forty-five days of such retrenchment, in such manner as may be prescribed.