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India Inc to offer average salary hike of 7.7% in 2021

Updated Feb 23, 2021 | 19:10 IST
As per the survey, e-commerce and venture capital-backed firms will give the best pay hike at 10.1%, followed by technology sector at 9.7%, ITES at 8.8%, and entertainment and gaming at 8.1%
India Inc to offer average salary hike of 7.7% in 2021
New Delhi: India Inc is likely to offer an average salary hike of 7.7% to employees in 2021 but performers are projected to get 1.6 times more, the India Salary Increase Survey by global professional services firm Aon said on Tuesday.
This will be more than the 6.4% average hike paid by companies in 2020. Also, India Inc’s 2021 pay hike will be better than most global economies, including Japan, the US, China, Singapore, Germany and the UK where the average salary growth will be between 3.1% and 5.5%. ....

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New job rules finalised rules under 4 codes, reform to be a reality soon

Updated Feb 14, 2021 | 11:59 IST
The Code on Wages was passed by Parliament in 2019 while the three other codes got clearance from both the Houses in 2020. The ministry wants to implement all four codes in one go
New job rules finalised rules under 4 codes, reform to be a reality soon | Photo Credit: PTI
New Delhi: The Ministry of Labour and Employment has finalised rules under the four labour codes paving the way for making reforms a reality by notifying those for implementation soon. The four broad codes on wages, industrial relations, social security and occupational safety, health & working conditions (OSH) have already been notified after getting the President s assent. But for implementing these four codes, the rules need to be notified. ....

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[Explained] Wage code structure and how it will impact your take-home salary, gratuity payout

Updated Jan 06, 2021 | 06:25 IST
Traditionally tax was the annual change quotient for most employees that impacted their ‘take-home-pay’, but going forward labour codes may also have an impact.
Representational image
The government has been pushing the ‘Make-in-India’ initiative by bringing in various legislative, administrative and e-governance related changes to facilitate the ease of doing business in India. The Labour Code is one such step in that direction. As part of labour law reforms, the Government of India has undertaken rationalisation of 29 labour regulations and subsume them into 4 labour codes namely,
The Code on Wages, 2019 that has included 4 legislations relating to wage rate, time of payment, bonus, equal opportunity and remuneration ....

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