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New Wage Code: Here's how it will impact your PF, salary, gratuity and pension | Personal Finance News

Many changes have been implemented starting from employee holidays to salaries and working hours have been enacted as a result of this bill. ....

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What is the new wage code? Here's how it will affect your salary, PF, pension, gratuity

What is the new wage code? Here's how it will affect your salary, PF, pension, gratuity - Many changes have been made under this bill regarding holidays, salary and working hours of the employees. ....

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Renewed salary structure from July! New Wage Code may be implemented, working hours, holidays likely to be affected

Highlights
Take-home pay may reduce.
PF and Gratuity might rise.
New Delhi: The discussion on the new Wages Code is yet again gaining steam with media reports stating that renewed salary structure will be implemented from July.
The new wage code was to be implemented from April 1, but the Ministry of Labour postponed it. Media reports said that if the same is implemented from July, then there can be a big change in the salary structure of the job seekers.
Take home pay to be affected
The government s notification on Code on Wages 2019 may reduce the take-home pay of employees next financial year ie, April 2021 while components like PF and Gratuity might rise. This is based on the grounds that the new wage code mentions provision entailing that the employee s basic salary will be at least 50 percent of his/her net monthly CTC. Hence, if this provision comes into effect, it will mean that employees will not be able to get more than 50 percent of his/her net ....

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Labour codes to herald new wave of reforms in 2021; job creation likely to be major challenge

NEW DELHI: The implementation of four labour codes in one go from April 1 next year will usher in a new wave of reforms in industrial relations and also help in attracting more investments but employment generation will remain a key challenge in 2021.
This year has also been a challenging year for the work force as well as for employers due to the outbreak of the COVID-19 pandemic. The government imposed a nationwide lockdown from March 25, which had an adverse impact on economic activities and resulted in exodus of migrant workers from large cities to their homes in the hinterland.
Many migrant labourers lost their jobs and it took months for them to return back to their work places from their native places. ....

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labour reforms: Labour codes to herald new wave of reforms in 2021; job creation likely to be major challenge

Synopsis
This year has also been a challenging year for the workforce as well as for employers due to the outbreak of the COVID-19 pandemic. The government imposed a nationwide lockdown from March 25, which had an adverse impact on economic activities and resulted in the exodus of migrant workers from large cities to their homes in the hinterland.
How will the new labour codes impact you? Key provisions decoded
New Delhi, Dec 30 () The implementation of four labour codes in one go from April 1 next year will usher in a new wave of reforms in industrial relations and also help in attracting more investments but employment generation will remain a key challenge in 2021. ....

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