New Wage Code: An important meeting is to be held in the Ministry of Labor on Friday regarding the new Labor Wage Code. In this meeting, the inputs received from the states will be discussed, as well as the government will start the process of finalizing the rules.
New Delhi: A big news has come about the new labor wage code of the employees. An important meeting of the Labor Ministry can be held on this matter on Friday, before that inputs were sought from the states regarding the labor code. According to sources, there may be a delay in the implementation of the new labor wage code, but a decision on its rules will be taken soon.
Rules will be applicable in the current financial year
Earlier, there was talk about the implementation of the Wage Code from April 1, but due to the speculations of the state governments, it may be delayed. An important meeting is to be held in the Labor Ministry on Friday regarding the new Labor Wage Code. In this meeting, the inputs received from the states will be discussed, as well as the government will start the process of finalizing the rules. The big thing is that the government is preparing to implement the wage code in the current financial year itself.
In the new wage code, many rules can be made keeping in mind the interests of the employees. Under this, if an employee works for 12 hours, then he will get 3 days leave every week. Apart from this, the limit of allowances under the new code will be 50 percent and half of the total salary will come under basic salary. The EPF contribution will be calculated from the basic salary itself and the increase in the basic salary will also increase the PF contribution.
No more than 12 hours of work
The big thing that has come out in the proposed rules is that the working hours can be maximum 12 hours. Apart from this, extra work of 15-30 minutes will be considered as overtime. Under the current rule, less than 30 minutes is not considered overtime. The proposal to give half an hour break to the employee after every 5 hours is also included in these rules.
With the implementation of the new wage code, the Earned Leave of the employees can also increase from 240 to 300. There was a demand from the employees to increase the Earned Leave from 240 to 300. Apart from this, the allowances in the new wage code cannot exceed 50 percent of the total salary at any cost. If the salary of an employee is Rs 50,000 per month, then his basic salary should be Rs 25,000 and the remaining Rs 25,000 can come in his allowance.
