India notifies gig worker social security rules; aggregators to fund 1-2% of turnover
Centre's Code on Social Security mandates Swiggy, Zomato, Flipkart, Uber and Ola contribute 1-2% of annual turnover (capped at 5% of payouts) to a gig welfare fund targeting 2.35 crore workers by 2029-30. Eligibility gaps and cost pass-through risks loom.
What happened
Government of India · Centre notified Code on Social Security rules requiring aggregators like Swiggy, Zomato, Flipkart, Uber, Ola to contribute 1-2% of
Key facts
- 1-2% of annual turnover
- 5% cap on payouts
- 90 days single aggregator
- 120 days cumulative
- 1 crore workers 2024-25
- 2.35 crore by 2029-30
- age 60 cap
- 14-day notice (Karnataka)
Why this matters
Reassess India platform M&A multiples and JV structures to price in a structural turnover-linked social security liability that scales with growth, not profit.