New Wage Code: New Wage Code has not been implemented across the country from July 1. In the new wage code, there is a rule of 3 days off and 4 working days in a week. Apart from this, your in hand salary will also decrease.
New Wage Code Latest Update: Under the new Wage Code, the government plans to implement the law of 3 days off and 4 working days in a week across the country. But the new labor code, which came into force from July 1, 2022, is currently stuck. Actually, the intention of the central government was that this law should be implemented simultaneously on the same date across the country. But due to lack of agreement on this, it could not be implemented.
Could not be implemented from 1st July
Let us tell you that the government has brought a law with four major changes for the employed. 23 states have agreed to the pre-published draft of the new labor code. But the rest of the states have not adopted it yet. Because of this, it could not be implemented from July 1. In the new labor code, there is a provision of 3 days off and 4 working days in a week. Apart from this, in hand salary will also be affected in this.
In hand salary will be reduced
With the implementation of the new wage code, the in-hand salary of the employees will be reduced. In the current structure, the basic salary ranges from 30 to 40 percent of the employee’s salary. Apart from this, there is special allowance, HRA, PF etc. But in the new structure, the basic salary will be 50 percent of the CTC. This will directly affect your PF and Gratuity.
Working hours will increase
With the implementation of the rule of 4 days of work and three days of leave in a week, the working hours of the companies will increase per day. On the implementation of this law, 12-12 hours of work will have to be done every day. Under this, it is necessary to work 48 hours every week. There is a provision of working 12 hours a day in four days of working.
Full and final in two days
In the new wage code, if you leave the job from the existing company, then the company will have to do your full and final account in two days. There is a provision in this that in any event of employee leaving the company, dismissal or retrenchment etc., the full and final account will have to be done in two days. Now companies take 30 to 60 days in this.
