New Wage Code – Know latest update

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New Wage Code: New Labor Code, Salary Decoded – Draft ready, may be applicable anytime – Know latest update

The current labor code is intended to promote the economic and social security of workers. To do so, it changes the PF regulation, working hours, pension, salaries past retirement.

The new labor code will be contributing to the national social security schemes and creating a harmonious work environment. It will create effective working conditions for employers, employees, and entrepreneurs.

What to do if you haven’t updated your job yet

The government of India has been preparing for changes to the labor laws. Except for 1 or 2 states, all have submitted their draft to the Center along with suggestions. On the basis of which the new labor code is in the final stages and close to going into effect. The government has made 4 new labor codes in place of 29 central laws. These include Wage, Social Security, Industrial Relations, and Occupational Security Laws

New Wage Code: Know what is coming and follow the updates

The new labor code strives to strengthen the socio-economic security of employees, which includes pension, PF contribution, and retirement benefits. With the implementation of this, salary structures will change drastically. For example, an employee’s basic salary cannot be less than 50% of the company’s CTC. This will change the take-home pay for employees, but on retirement they will receive more. The new labor code will also benefit those in the unorganized sector.

New Labor Code could be applied anytime – Know latest update.

Also read: How to change your name, address, date of birth in Aadhaar Card

In accordance with the new labor code, a company can increase the number of hours per day from 9 to 12. However, this will be optional for the employee. They’ll only work 4 days per week and still have 3 days off per week. If they resign or are removed or terminated, the company will be required to reimburse them within 2 days of their last day. Companies usually take 1-2 months to settle this. PF and gratuity is not part of this reimbursement.

Work on integration of e-shram portal

To ensure workers financial security, the government has now prepared to implement the new labor code. It also plans to link e-shram with states’ databases so that they can get all the benefits of welfare schemes.

Read the new draft of the New Labor Code

– Get the latest updates on a new wage code

Download the latest Draft of the Salary Code

What is in the new wage code?

Included in the new wage code

New Wage Code Decoded

– Draft ready, may be applicable anytime

Know the latest updates on how Occupational Security is updated

The features of the New Labor Code

What is the New Wage Code and its implications?

– latest article about pension

Salary Update

Learn what the new wage code says about salaries

CTC will be 50% of the Basic Salary

– Addition to basic salary will increase PF contribution

New Wage Code: What you need to know before the changes

– Learn about latest updates for the draft of the new labor code, how the law might change

Get information about the latest wage changes

Preview features of the ‘New Labor Code’

– 4 day workweek with 3 days’ break

– Approval to increase working hours from 9 to 12 hours

What are some of the features in the New Labor Code?

– Salary Decoded: How does salary affect employees?

When is full and final payment due after the Last working day?

– At present, companies take one and a half to two months time

Want to learn about the Wage Code?

Latest and unofficial updates about Code of Wages

Pathways for implementing the new wage code

How to work in the Philippines and keep up to date

Benefits of government schemes for workers

Know the new labor code and how to increase participation of women in the labor force.

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