Benefits Under The Social Security Code, 2020 To The Workers Of Medium-Scale Enterprises

Abstract

The implementation of the Social Security Code of 2020 represents a substantial advancement in the direction of furnishing all workers, including those engaged in Medium Scale Enterprises (MSEs), with comprehensive welfare provisions. This article examines the advantages bestowed by the Social Security Code, 2020, with a particular focus on its application to the personnel of Medium Scale Enterprises. By conducting a thorough analysis of the provisions outlined in the code, this study aims to elucidate the tangible advantages conferred upon personnel employed in this particular sector of the economy. By conducting an analysis of statutory programmes including maternity benefits, health insurance, provident funds, and pensions, this paper underscores the profound capacity of the Social Security Code to enhance the socioeconomic stability of employees in Medium Scale Enterprises. Moreover, an assessment is conducted to determine how these advantages affect the competitiveness, productivity, and general well-being of Medium Scale Enterprises in the current economic environment. It highlights the significance of inclusive policy measures for sustainable and equitable development by elucidating the intricate nuances of the Social Security Code, 2020. It facilitates a deeper understanding of the dynamic regulatory structure that controls social security in India.