The key trade unions have advocated for the creation of a government-sponsored social security fund in the 2019 Budget for millions of unorganized workers, gig and platform workers, and agricultural workers, as outlined in the Code on Social Security 2020.

"The Union government-sponsored social security fund for the unorganized workers will provide them with defined universal social security schemes, including minimum pension and other medical and educational benefits," Amarjeet Kaur, general secretary of the All India Trade Union Congress, told a credible source. The issue was also discussed with Finance Minister Nirmala Sitharaman on Monday, as central trade unions submitted proposals as part of the pre-Budget consultation.

"A social security fund for unorganized workers and agricultural laborers needs to be established. Special plans to ensure occupational health and safety measures for workers, particularly in vulnerable industries like trash recyclers, salt pan workers, and glass bangle makers," said a statement issued by the 10 key trade unions present at the meeting. Though the Rashtriya Swayamsevak Sangh (RSS) - affiliated Bhartiya Mazdoor Sangh and the National Front of Indian Trade Unions (NFITU) have not signed the statement, their representatives have stated that the topic was raised and debated during the meeting.

"Despite the fact that the whole code has yet to be implemented, the government can put section 141 into action. The law allows for partial implementation of the code, and some aspects, such as section 142, which deals with the usage of Aadhaar, are already in operation. According to labor lawyer B C Prabhakar, the fund will bring assistance to millions of informal workers, making it a good step in the implementation of the new regulations.

The establishment of the fund will allow the Centre to quickly roll out benefits to unorganized workers by consolidating the existing social security schemes - old age pension, provident fund, health, housing, and education - under one umbrella and rerouting the benefits through the Social Security Fund.

Following the incorporation of the Unorganised Workers' Social Security Act of 2008, Section 141 of the Code on Social Security 2020 envisions the establishment of the Social Security Fund, which will be funded by the central government, state governments, corporate social responsibility funds, aggregator contributions, and the composition of the code's offences.