The Alternate measures that can be taken to provide social security to gig workers i Individual...........

Economic and Social Issues Nature of Indian economy

The draft Code on Social Security has proposed that the Centre may formulate social security schemes for gig workers.As per the draft social security code, the Central Government may formulate and notify, from time to time, suitable social security schemes for gig workers and platform workers.A gig economy is also cost efficient for companies, given that they can accommodate temporary workforce, according to the customer requirements or business needs, leading up to saving administrative and compliance costs that they would otherwise incur if they choose to hire full time or regular employees, especially in cases where business models do not involve the engagement of permanent workforce. It may not be possible for companies and start-ups to afford skilled professionals as fulltime employees. In such situations, companies may choose to enter into contracts with the professionals for a specific time period. This relationship is rather symbiotic, and both parties have equal freedom to look for options that cater to their needs. Meanwhile, both parties simultaneously spend their energy in cultivating connections and building relationships with their respective demography.

The Alternate measures that can be taken to provide social security to gig workers:

i Individualisation of social protection

ii Group Planning

iii Special schemes for gig workers

Select the correct answer using the code given below

i and ii only

ii and iii only

i and iii only

all of the above

none of these

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Explanation:

The Alternate measures that can be taken to provide social security to gig workers are:

•Individualisation of social protection: This approach ties social protection entitlements to individuals,not employment relationships, by recording all social protection contributions made by workers themselves.

•Group plan: Companies should encourage gig workers to participate in a group plan, which is often less expensive than the cost of individual market coverage.

•Special schemes for gig workers: Some countries have special schemes for artists and other creatives who often have unstable employment patterns and may thus struggle to accumulate the contribution periods necessary to receive social protection benefits.