New Wage Code India: After the implementation of the rules of the new Wage Code, major changes will be seen in the salary structure, PF, working hours and weekly off of the employees. The government says that the interests of the employees have been fully taken care of in the new rules.
New Wage Code India Updates: There is a lot of discussion in media reports these days about the new Wage Code . Although it was to be implemented from April 1, but the rules were not implemented due to the unpreparedness of the state governments, after which it was again expected that it could be implemented from July, but according to the news received by Zee News. It is difficult to implement it before October. Because the states have not yet prepared the draft rules.
What is in the new wage code for employees
There are many such provisions in the new wage code, which will affect even the salaried class working in the office, workers working in mills and factories. From their salary to their holidays and working hours will also change. We are going to tell you some such provisions of the new wage code, after the implementation of which your life will change a lot.
1. Salary Structure Will Change
After the implementation of the new wage code rules, there will be a change in the salary structure of the employees, their Take Home Salary may decrease. Because according to the Wage Code Act, 2019, the basic salary of an employee cannot be less than 50% of the cost of the company (CTC). At present, many companies reduce the basic salary and give more allowances from above so that the burden on the company is reduced.
2. PF, Gratuity will increase
The effect of this will be that due to increase in Basic Pay, the PF of the employees will be deducted more i.e. their future will be more secure. Along with PF, the contribution towards gratuity will also increase. That is, the take home salary will definitely decrease but the employee will get more amount on retirement. The new wage code will also be applicable for the employees of the unorganized sector. The rules related to salary and bonus will change and there will be equality in the salary of employees working in every industry and sector.
3. Holidays of the year can be increased to 300
Apart from this, the Earned Leave Leaves of the employees can be increased to 300. In the past, many provisions were discussed between the Labor Ministry, Labor Union and representatives of the industry regarding changes in the rules of the Labor Code. In which there was a demand to increase the Earned Leave of the employees from 240 to 300. However, no decision has been taken on this yet.
4. If the working hours increase, then the weekly off will also increase
Regarding the new wage code, it is being said that the working hours will increase to 12. However, clarification has been given on this by the government long ago. It has been told by the Ministry of Labor and Employment that in the proposed Labor Code, it has been said that the rule of 48 hours of work in a week will be applicable, in fact some unions had questioned the rule of 12 hours work and 3 days leave. On this, the government clarified that there would be only 48 hours of work in a week, if someone works for 8 hours a day, then he will have to work 6 days a week and will get one day off. If a company adopts work for 12 hours a day, then it will have to give leave to the employee for the remaining 3 days. If the working hours increase then the number of days will also be 5 or 4 instead of 6. For this, it is also necessary to have an agreement between both the employee and the company.
5. Minimum wage will be applicable for workers
For the first time, all types of workers of the country will get minimum wage. New schemes are being brought for migrant laborers. Provident fund facility will be provided for the social security of all the workers. All employees of organized and unorganized sector will get the coverage of ESI. Women will be allowed to work in all types of businesses, they will also be allowed to do night shifts.