Which of the following statement regarding recently passed Code on Industrial Relation 2020 is incorrect?
1
It subsumed the Industrial Dispute Act, 1947.
2
Every establishment with 100 or more workers must prepare a standing order.
3
An establishment with 300 or more workers should seek permission of the government before closure, lay-off, or retrenchment.
4
The act has a provision for Reskilling Fund.