🚨 *Attention Employers: Private Companies to Report Job Vacancies to Government!* 🚨 The central government is set to replace the Employment Exchanges Act, 1959, with a new Social Security Act, making it mandatory for private companies to report all job vacancies to the government. This move aims to enhance job market transparency and revive employment exchanges, ensuring job opportunities reach a wider audience. 🔹 *Key Highlights:* ✅ Mandatory Reporting: Private companies must disclose all job vacancies across departments and verticals to the government. ✅ Increased Penalties for Non-Compliance: The fine for failing to report vacancies may surge from ₹100 to ₹50,000! ✅ Government’s Goal: Strengthen employment regulations, boost formal job tracking, and provide better employment opportunities to job seekers. ✅ Potential Impact: This reform may increase compliance obligations for employers while offering structured job access to job seekers. This regulatory shift underscores the government’s intent to monitor recruitment processes closely and ensure equitable employment opportunities. Employers must stay prepared for upcoming notifications and compliance procedures. *📢 Stay updated on this major employment reform!* #employmentreforms #jobvacancyreporting #socialsecurityact #labourlawupdate #hrcompliance