Act Number: 36

Act Name: The Code on Social Security, 2020

Year: 2020

Enactment Date: 2020-09-28

Long Title: An Act to amend and consolidate the laws relating to social security with the goal to extend social security to all employees and workers either in the organised or unorganised or any other sectors and for matters connected therewith or incidental thereto.

Ministry: Ministry of Labour and Employment

Department:

Section 80: Commutation of half-monthly payments.
    Any right to receive half-monthly payments may, by agreement between the parties or, if the parties cannot agree and the payments have been continued for not less than six months, on the application of either party to the competent authority be redeemed by the payment of a lump sum of such amount as may be agreed to by the parties or determined by the competent authority, as the case may be.
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