New Wage Amendment Act, under the laws of the employees to take home salary tagganundi. This means that from April 1, the central government led by Narendra Modi will implement the new Wage Code-Bill 2021 or the new Labor Act from April 2021.
The salaries of government employees are also likely to increase through this new law . Official working hours, gratuity and provident fund ( PF ) will increase as the central government changes employees .
This law will give a mixed result to employees who expect the DA to increase if it comes into force. Because according to the report, the provident fund will increase and the home tech salary will decrease. Also, the new pay code proposed by the government stipulates that employees must have 50 per cent of the basic salary CTC. It affects the basic salary of the employee. PF, Gratuity, DA, TA, House rent allowance figures are also changing.
Take Home Salary will be reduced to 50% Basic if this Act comes into force . 24 (12 + 12) per cent of this share will be transferred to the employee’s PF account. This means that cooperation with PF will increase. Most companies deduct 12 per cent PF from employees’ CTC.
The new law states that this gratuity applies to the employee who has worked for one year. Gratuity usually comes if an employee works in the same company for 5 years. This will be the first amendment to the Labor Law in independent India if this new law comes into force . No official announcement has been made on the new law yet.
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