New Wage Code India Updates: New Wage Code is in discussion in India. Earlier it was to be implemented from April 1, but due to non-receipt of draft rules from the state governments, this rule was not implemented.
However, now it is being speculated to be implemented in October. It is being told that by October, all the states will also prepare their own draft rules. Let us tell you that under this new rule, many changes will be made regarding the holidays, salary and working hours of the employees.Also Read:Gold price today: Gold became cheaper by Rs 1700 in 2 days, check what is the price of 10 grams today?
Will increase working hours and weekly off
Under the new Wage Code Working Hours, the working hours of the employees will increase from 9 to 12. According to the Ministry of Labor and Employment, the rule of 48 hours of work in a week will be applicable. Some unions had questioned the rule of 12 hours work and 3 days leave. The government said that there will be a rule of 48 hours of work in a week, if someone works for 8 hours a day, then he will have to work 6 days a week and will get one day off. If someone works 12 hours a day, then that employee will have to give leave for the remaining 3 days.Also Read:Indian Railway Reservation Rules, How To Change Date Of Online Journey Train Ticket
There is a lot in the new wage code
Many such provisions have been given in the new Wage Code, which will affect the salaried class working in the office, even the workers working in mills and factories. From the salary of the employees to their holidays and working hours will also change. Let us know some provisions of the new wage code, after the implementation of which your life will change a lot.Also Read:LIC Credit Card: If you have LIC policy then get LIC Credit Card made for free, you will get tremendous benefits from petrol till…
Change in salary structure
Changes will also be made in the New Wage Code Salary Structure of the employees under the new Wage Code. Take Home Salary can be reduced. Because according to the Wage Code Act, 2019, the basic salary of an employee cannot be less than 50% of the cost of the company (CTC). At present, many companies reduce the basic salary significantly and give more allowances than above.Also Read:IRCTC will conduct Bharat Darshan, with roaming in these six places, you will get the facility to stay and eat for free
Increase in holidays
Earned Leave of employees can be increased from 240 to 300. Many provisions were discussed between the Labor Ministry, Labor Union and representatives of the industry regarding changes in the rules of the Labor Code. In which there was a demand to increase the Earned Leave of the employees from 240 to 300.Also Read:Ticket to London: You will be shocked to hear the price of London air tickets! DGCA in Action
Minimum wage will be applicable for workers
For the first time, all types of workers of the country will get minimum wage i.e. minimum salary. New schemes are being brought for migrant laborers. Apart from this, the facility of provident fund will be given for the social security of all the workers. All employees of organized and unorganized sector will also get coverage of ESI. Under this, women will be allowed to work in all types of businesses, they will also be allowed to do night shifts.Also Read:Bad News! Now 18% GST will be levied on gifts and cashback vouchers, see the new rule
PF, gratuity will increase
Under this, due to the increase in Basic Pay, the PF of the employees will be deducted more, that is, your future will be more secure than before. Along with PF, the contribution towards gratuity will also increase. That is, the take home salary will definitely decrease but the employee will get more amount on retirement. The new wage code will also be applicable for the employees of the unorganized sector. The rules related to salary and bonus will change and there will be equality in the salary of employees working in every industry and sector.Also Read:This Made in India electric cycle runs 100 km in 4 rupees, know its price and features
