New Delhi–The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a new wage code bill that which will amalgamate and simplify provisions of four labour related laws, sources said.

The Labour Code on Wages Bill would amalgamate Minimum Wages Act, 1948, the Payment of Wages Act, 1936, the Payment of Bonus Act, 1965 and the Equal Remuneration Act, 1976, they said.

The Second National Commission on Labour had recommended that the existing labour laws should be broadly grouped into four or five Labour Codes on functional basis.

The Labour Ministry has taken steps for drafting four Labour Codes – on wages, industrial relations, social security and welfare and safety and working conditions by simplifying, amalgamating and rationalising the relevant provisions of the existing central labour laws.

The Labour Code on Wages bill is likely to be introduced in the ongoing monsoon session of parliament. (IANS)