Under Section 83 of the Industrial Relations Code, 2020, the newly introduced Worker Re-skilling Fund requires employers to contribute how many days' wages per retrenched worker, and within what period must this amount be credited to the worker's account?

Section 83 of the Industrial Relations Code, 2020 introduces the Worker Re-skilling Fund a landmark new provision with no precedent in earlier labour legislation. When a worker is retrenched, the employer of the industrial establishment must contribute an amount equal to 15 days' wages last drawn by the retrenched worker (or such other number of days as notified by the Central Government) to this Fund. This amount must be credited to the worker's account within 45 days of retrenchment. The Fund is also supplemented by contributions from other sources as may be prescribed by the appropriate Government. The objective of the Fund is to enable retrenched workers to acquire new skills and secure fresh employment, addressing the reality that many retrenched workers lack resources for retraining. This provision reflects the Code's philosophy of balancing employer flexibility in workforce management with social protection for displaced workers.