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New Labour law 2022 in Tamil | 4 day work | 3 week off | Decrease take home salary | Code of wages

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A company must pay the full and final settlement of wages within two days of an employee's last working day following their resignation, dismissal or removal from employment and services, according to the new wage code.

Currently, the common practice followed by businesses is to pay the complete settlement of salary after 45 days to 60 days from an employee's last working day, and in some cases, it goes up to 90 days.

complete settlement of wages within two working days

That does not include gratuity or provident fund payout, as those come under different laws.

As per the new laws, the companies can increase the working hours from 8-9 hours a day to 12 hours.

However, they will have to offer the employees three weekly offs.

So, the working days in a week will be reduced to four days but total working hours in a week will not be affected.

The new wage code mandates total working hours of 48 per week.

The employees' take-home salary will also change significantly as the basic salary will be at least 50 per cent of the gross monthly salary under the new wage code. 

This will also increase the PF contributions made by employees and employers, and the take-home salary will be affected more by the employees in the private sector.

Under the new labour laws, the retirement corpus and gratuity amount will increase.

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