New Wage Code: It is expected that the new wage code can be implemented by the government from July 1 across the country. After its implementation, working hours, take home salary and PF everything will change.
New Wage Code: If you also do a job, then you will be happy after reading this news. Yes, the central government is preparing to implement four new labor codes. After the implementation of the new labor code, major changes can be seen in the offices. The special thing is that after the implementation of the new labor code, the working hours, take home salary and PF everything will change.
No official announcement yet
It is being claimed in media reports that the government is considering implementing the new Wage Code from July 1. However, no official announcement has been made on this yet. Before the implementation of the new wage code, the maximum focus of employees and companies is on working hours. 23 states of the country have made their labor laws according to the labor code of the center.
These rules will change
The law related to the Labor Code has been passed by the government in the Parliament. Giving information, Union Labor Minister Bhupendra Yadav had said that four labor codes will be implemented soon. After its implementation, there will be a change in the rules from salary, office timings to PF retirement. According to the estimates of the government, there are about 38 crore workers in the unorganized sector in the country. Let us know what will change with the implementation of the new wage code?
Working hours
The new wage code proposes to increase the maximum working hours to 12 hours. It is divided according to the week in the ratio of 4-3. That is, 4 days office, 3 days week off. It is proposed to give 30 minutes break to the employee after every 5 hours.
Overtime on work more than 30 minutes
In the new wage code, it is proposed to include additional work of 15 to 30 minutes in overtime by counting 30 minutes. At present, time less than 30 minutes is not considered overtime.
Salary structure will change
According to the new Wage Code Act, the basic salary of an employee cannot be less than 50 percent of the cost of the company (CTC). After the implementation of the Wage Code, the take home salary of the employees will decrease.
Will get more amount on retirement
With the increase in PF, the contribution towards gratuity will also increase. That is, the benefit of reducing take home salary will be available on PF and retirement. The rules related to salary and bonus will change.
