New Wage Code: There is good news for the employed people. The mandatory requirement of 5 years for gratuity in the job may be over. The government is preparing for this. It is being claimed in media reports that if the government implements the rules of the new labor code, then it can change the rules of gratuity.
New Delhi: New Wage Code: There is good news for the employed people. The mandatory requirement of 5 years for gratuity in the job may be over. The government is preparing for this. It is being claimed in media reports that if the government implements the rules of the new labor code, then it can change the rules of gratuity. It is being said that there may be a new condition for one year’s job instead of 5 for gratuity, but no statement has come from the government in this regard yet.
Gratuity is available on 5 years job
Actually, gratuity is given to the employee for working more than 5 years in a company. It is given to the employees under a fixed formula. During work, a small part of gratuity is deducted from the salary of the employee and a large part is given by the company.
Waiting for new wage code to be implemented
Let us tell you that everyone is waiting for the new wage code. Updates keep coming from time to time regarding this. Recently, during the monsoon session of Parliament, Minister of State for Labor Rameshwar Teli had told that no deadline has been fixed yet, but efforts are being made to implement it as soon as possible. He had told that comments on different codes have not been received from many states.
Wage code will be implemented in a phased manner
According to media reports, there is a plan to implement them sequentially from October 1, 2022. That is, on the basis of the number of drafts ready, different codes will be implemented in a phased manner.
Let us inform that 4 new codes have been created by combining 29 central labor laws. These include the Industrial Relations Code, Code on Occupational Safety, Health and Working Conditions Code, Social Security Code and Code on Wages.
