New Labour Law Like to Implement from 1st of July: Office Hours may Increased, Take home salary may decreased – check other changes from Here!!! – As per the reports, The Central Government is to implement new Labor laws from 1st of July, 2022. The Central Government is working on the construction of 4 new labour Codes; this will give significant changes in employee’s salary, PF Contributions and Working Hours. It may take 3 months to implement those labour laws.
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New Labour Code Design:
These 4 new labour code rules under New Labour Laws is designed as Increasing investment in the Country, as the investment increase the employment opportunities will get increase. 13 stated including Uttarakhand, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Odisha, Arunachal Pradesh, Haryana, Jharkhand, Punjab, Manipur, Bihar, Himachal Pradesh and UT of Jammu and Kashmir have prepared draft for labour code rules.
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Changes in Working Hours:
Current the working hours is between 8 to 9 hours. If the new labour law was implemented then the office hours may increased to 12hours. The companies may make the employees work for 4 days a week instead of 5 days and there will be 3 weeks off. The Centre is planning to implement the new rules as soon as possible.
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Increase in Basic Pay and PF Contribution:
According to the new labour laws, the basic salary will be minimum 50% of the total salary. However, this will have an influence on the majority of employees’ salary structures. The provident fund and gratuity money would be deducted more than previously due to the rise in basic wage. Because the PF contribution would increase, the take-home pay will decreased.
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