Offrd Times · Tuesday, 19 May 2026

In this edition Centre notifies final wage and IR code rules, issues Model Standing Orders · EPFO to switch to risk based inspection, will retire discretionary checks · 5 more items below.

Policy

Centre notifies final wage and IR code rules, issues Model Standing Orders

Business Standard · Reported 6:00 pm IST

The labour ministry notified the final central rules under the Code on Wages and the Industrial Relations Code on May 8, alongside Model Standing Orders for manufacturing, mining, and services. Worker records must now hold mobile number, ESI number, gratuity nominee, and training history. The eight hour day and 48 hour week stay in place. Overtime is paid at twice the wage rate. Electronic registers and wage slips are allowed. State rules will follow. Central sector employers begin compliance now.

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Karnataka holds back minimum wage notification, reviewing new code rules

The Karnataka labour department has yet to issue the final minimum wage notification a year after the draft was tabled, Deccan Herald reported on May 11. Labour minister Santosh Lad cited the centre's freshly notified Labour Code rules as the reason. The state draft follows the Reptakos Brett judgment that ties minimum wage to food, clothing, shelter, education, and medical needs. SME read, wage bills across Bengaluru zone one and the rest of the state stay on hold for now.

Deccan Herald · 9:39 pm

Government

PMEGP builds 4 lakh micro enterprises, generates 3.63 million jobs

The Prime Minister's Employment Generation Programme exceeded its 15th Finance Commission target, setting up 4.04 lakh micro enterprises against a goal of 4.02 lakh, the MSME ministry said on May 7. The programme, run through KVIC, generated employment for 3.63 million people across the five year cycle, against an outlay of 13,554 crore. PMEGP is the main scheme through which first time micro entrepreneurs in the non farm sector access credit linked subsidy.

Business Standard · 10:00 am

Government

Cabinet clears 18,100 crore ECLGS 5.0 to back MSME and airline borrowing

The Union Cabinet cleared the fifth Emergency Credit Line Guarantee Scheme with an outlay of 18,100 crore on May 5. Banks will extend additional loans backed by government guarantee, covering 100 percent of losses for MSME borrowers and 90 percent for larger firms and airlines. Eligible firms can draw up to 20 percent of their peak March quarter working capital, capped at 100 crore. The full window is expected to unlock 2.55 trillion in additional credit.

Business Standard · 2:00 pm