Central Government is considering a significant shift in employment regulations by mandating private companies to notify job vacancies.
This move aims to enhance transparency and streamline the job recruitment process in India.
In addition to the Social Securities Act, the Centre is also drafting a Private Placements Act to regulate placement agencies.
This act will require all placement agencies to register in their respective states, which will empanel and monitor them.
The agencies will also be required to participate in state-organized job fairs.
Employment Exchanges Act, 1959: Proposed Changes
The government plans to replace the Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959, with the new Social Securities Act.
This new legislation will formalize a mechanism for disseminating information on job vacancies and introduce steep penalties for non-compliance.
The proposed fines for failing to report vacancies could be as high as Rs 50,000, a substantial increase from the current nominal penalties of Rs 100-500.
Mangal Prabhat Lodha, the state minister for skill education, employment, and entrepreneurship, highlighted that employment exchanges have become defunct over the years.
The revamped law aims to revive and strengthen these exchanges to ensure companies inform the state about vacancies.
This initiative is part of a broader 100-day action plan to improve employment regulations.
State-Specific Job Portal
To ease compliance, the Maharashtra government plans to develop a state-specific job portal for companies to list their openings.
This platform will centralize job notifications, making it easier for job seekers to access information about available positions.
Sougato Roychoudhary, executive director of the Confederation of Indian Industry (CII), stated that while there is already a provision to notify vacancies, the new proposal will help understand the number of jobs in each state.
This initiative is seen as a positive step towards addressing unemployment and improving transparency in the recruitment process.
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