Increasing expansion of cross-border transactions, often involving employee movements, and recently introduced labour codes add additional layers of complexity for employers to navigate when pursuing global restructuring involving Indian workers.
Indian employment laws have historically been complex, with both central and state level legislation governing employee benefits, defined social benefits, working conditions, trade union engagement, industrial disputes and terminations.
Recently, the Indian government announced four long-awaited labour codes, which consolidate and repeal 29 central laws relating to wage determination, social security, industrial relations and worker occupational health and safety.
Since this announcement, Indian employment law gains even more significance in the context of global restructuring – particularly because of the lack of clarity on implementation; interplay between the former laws and the new labour codes; employer compliance obligations and mechanisms; and due-diligence considerations.
As a result, businesses must be vigilant and proactive, and ensure that all stakeholders collectively work towards compliance with the four labour codes in any restructuring.
Acquisitions, global mergers and cross-border restructuring often involve employee transfers, redeployment and consequent redundancies.
Under Indian law, employee transfers can occur through several mechanisms, which are dependent on the overall transaction structure. For example,...
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