The New-Wage Code Bill 2021, will have a direct impact on the central government employees' salary, provident fund and gratuity.
The wage code will lead to an increase in gratuity payments and employers' contribution to their retirement corpus.
Private companies will not be allowed to keep allowances component higher and the basic salary lower.
As per the Wage Code Bill 2021, an employee's monthly basic salary can't be less than 50% of the net CTC.
Private-sector employees’ salary will also be impacted. Most of those working in private companies are likely to see a cut in their take-home salary from April.
The labour codes would not only provide social security to organised sector employees but also to informal sector workers like gig and platform workers (not on the rolls of an organisation).
About Channel: India.com covers breaking news, latest news, politics, entertainment and sports from India & World.
Follow us on:-
Web: [ Ссылка ]
Facebook: [ Ссылка ]
Twitter: [ Ссылка ]
Instagram: [ Ссылка ]
