New Labour Code: 23 states have adopted a pre-published draft of the New Labour Code Act. But the rest of the states have not yet adopted it. The government has come up with a New Labour Code for four major changes.
The New Labour Code, which will come into effect from July 1, is currently stuck. The central government wanted all the states to implement the New Labour Code together, but things did not work out and the law is currently hanging in the balance. 23 states have adopted a pre-published draft of the New Labour Code law. But the rest of the states have not yet adopted it. The government has come up with a New Labour Code for four major changes. With the new code, there would be a shift from weekly holiday to in-hand salary.
Three days weekly off
According to the new wage code, salaried people have to get four days’ work and three holidays in a week. However, after its implementation, employees will have to work more in the office. You will have to work 12 hours a day in the office with three days off in a week. That is, in any case, the duration of your work will not be reduced.
Presently the employees have to work in the office for 8 to 9 hours 5 days a week. The New Labour Code relates to wages, social security, industrial relations, and occupational security.
Big change regarding holidays
Regarding holidays, there has been another significant alteration to the new labor rules. At present, an employee has to work at least 240 days in a year to take a long leave in any institution. But it has been lowered to 180 days in the New Labour Code (6 months).
complete and final in two days
After leaving the job in the new pay code, a major change has been made regarding full and final. It has been provided that companies will have to pay their salaries to the employees within two days of the employee’s leave, dismissal, retrenchment, and resignation. The majority of the rules now in effect are related to the payment and settlement of wages. However, this does not include resignation. At present, companies take 30 to 60 days to complete and finalize it.
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change in salary
A provision was also made to change the basic pay of the new pay code. After its implementation, take-home salary. salary in hand will be reduced in your account. Regarding payrolls, the government has issued new regulations. Under the new wage code, an employee’s basic pay should be 50 percent or more of his total salary (CTC).
If your basic salary increases, then your contribution to the PF fund will also increase. In such a case, more money than usual will be placed in PF. The employees will receive a sizable sum in this manner upon retirement. The government has made these changes keeping in mind the future of the employees. But the new pay code has not been implemented yet.
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