Why contract jobs are no answer at allOur great Finance Minister, whose record of work is nothing to feel proud about, had even announced a scheme in Parliament where the Government would pay the PF for the employer's contribution, for three years, in the case of what is called "Fixed Term Employment". It should be remembered that this a glorified name for what is actually contract labor. The banks, LIC companies and most of the IT sector and even BPO jobs were regular jobs and these were sought to give the employees social security. It is the same employees who were driving the economy and giving a fillip to the ever growing service sector. They were the ones who were actually buying the new flats and apartments.
Today, that is slowly changing. Everything is on contract. Most companies have already sub-contracted even part of HR activities. Security services and canteen are long gone to contractors. Now, diploma and degree holders in engineering are floating from one contract job to another.
This is no answer for our unemployment. Those on contract have the sword hanging over them. They cannot get married, no banker will ever give them any loan. The Government should impress upon the employers to take them on regular rolls. This atrocious practice has to stop.