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Employment
The state of having a job or being employed is referred to as employment. If someone must be employed, they must be compensated. The person who employs is known as the employer, while the person who is compensated for providing services is known as the employee.
Employment is a contract between two parties that governs the provision of remunerated labour services. One party, the employer, which could be a corporation, a not-for-profit organisation, a co-operative, or any other entity, pays the other, the employee, in exchange for performing assigned work, usually based on a contract. Employees work in exchange for pay, which can be in the form of an hourly wage, piecework, or an annual salary, depending on the type of work they do.
Employment is not a guarantee of escaping poverty; the International Labour Organisation (ILO) estimates that up to 40% of workers are poor, earning less than Rs. 178 per day to support their families. In India, for example, the majority of the chronically poor are wage earners in formal employment because their jobs are insecure and low-paying, and they have no opportunity to accumulate wealth to protect themselves from risks.
Employment in India
The Republic of India is one of the world’s most populous countries, with an annual population growth rate of 1%. Agriculture, industries, and services are the main sectors in India’s developing market economy. The agriculture sector employed the greatest number of people. In 2019, over 12 million people worked in factories across the country.
Related | Last | Previous | Unit | Reference |
|---|---|---|---|---|
Employed Persons | 29579.00 | 28999.00 | Thousand | Dec 2012 |
Labour Force Participation Rate | 46.90 | 46.80 | per cent | Sep 2021 |
Population | 1347.12 | 1332.90 | Million | Dec 2020 |
Employment Rate | 42.30 | 40.90 | per cent | Sep 2021 |
Youth Unemployment Rate | 22.90 | 24.90 | per cent | Mar 2021 |
Labour in India
Employed Persons 29579.00 to 28999.00 Thousand Related Last Previous Unit Reference Labour Force Participation Rate 46.90 to 46.80 per cent in December 2012 Population 1347.12 to 1332.90 Million in September 2021 Employment Rate in December 2020 42.30 & 40.90 per cent Youth Unemployment Rate 22.90 to 24.90 per cent in September 2021 March of 2021. The unorganised sector employs over 94 per cent of India’s working population.
In India, the organised sector, also known as the formal sector, refers to licenced businesses that are registered and pay GST. Corporations, factories, shopping malls, hotels, and large businesses are examples of publicly traded companies, incorporated or formally registered entities, corporations, factories, shopping malls, hotels, and large businesses.
The unorganised sector, also known as own-account enterprises, encompasses all unlicensed, self-employed, or unregistered economic activity, such as owner-operated general stores, handicrafts, and handloom workers, among other things.
The unorganised sector has a low rate of productivity and lower pay. Despite employing over 94 per cent of the workforce, India’s unorganised sector contributed only 57 per cent of the country’s GDP in 2006 or about 9 times less per worker than the organised sector. According to Bhalla, when the unorganised rural sector is compared to the unorganised urban sector, the productivity gap widens dramatically, with the gross value added productivity gap increasing by 2 to 4 times depending on the occupation. Some of the lowest paying jobs are in the unorganised rural sectors.
Workplace relations
In 2000, the formal sector (which includes government and corporations) employed about 7% of the 400 million-strong workforce, contributing 60% of the nation’s nominal GDP. The Trade Unions Act of 1926 established recognition and protection for a fledgling trade union movement. In India about 59,000 trade unions were registered with the Indian government in 1997.
INTUC, India’s largest trade union federation, represents about 0.5 per cent of the country’s workforce in both the organised and unorganised sectors. In 2010, more than 98 per cent of Indian workers were not members of a trade union and were not covered by collective bargaining agreements.
India’s labour laws
There are numerous labour laws in India, including those prohibiting discrimination and child labour, as well as those aimed at ensuring fair and humane working conditions, social security, a minimum wage, the right to organise, form trade unions, and enforce collective bargaining. India also has a number of strict regulations, such as a maximum number of employees per company in certain sectors of the economy, limitations on employers on retrenchment and layoffs, paperwork requirements, bureaucratic processes, and government approval for changes in labour in companies, even if these are due to economic conditions.
Employment Exchange
A government agency that helps job seekers find work is known as an Employment Exchange. Employers are referred to candidates who have registered with an Employment Exchange for job openings that have been advertised.
Importance of Employment exchange
The employment exchange’s main goal is to provide job opportunities to the state’s unemployed residents. As a result, citizens will become self-sufficient and empowered. Various skill development and career counselling workshops will be offered as part of this initiative to assist jobless people in finding work.
Conclusion
Employers can post job openings on job exchanges and choose from among the candidates who have registered. The Employment ExchangeAct, 1959 requires institutions that employ between 10 and 24 people to file returns. Employers must provide information relevant to the selection outcome against the openings recorded within thirty days of the date of selection to make registration data more rational.
