New Wage Code: Big change in the new labor code today, see here immediately – taxgst.com

New Wage Code 2022 Latest Update : New Wage Code is in great discussion these days. There is a discussion in the media that the new labor code can be implemented in the country from July 1. If it is implemented across the country from July 1, then its effect will be visible from weekly holidays of salaried people to in-hand salary. The government is preparing to bring four big changes for the employed people. The new labor codes are related to Wage, Social Security, Industrial Relations and Occupational Safety.

What changes will the new wage code bring?

After the implementation of the new wage code, the take home salary i.e. in hand salary will come less than before. The government has made a provision in the new rule that the basic salary of any employee should be 50 percent or more of his total salary (CTC). If the basic salary is higher, then the PF contribution will increase. With this provision of the government, employees will get a large amount at the time of retirement. Along with this, the gratuity money will also get more. This will make their future financially strong. According to the new law, 48 hours of work will have to be done in a week. Meaning the work is not to be reduced, but instead of 5 days, you will have to go to work for 4 days.

Final settlement within two days of leaving the job

There is also talk of big changes regarding the holidays. Earlier, it was necessary to work at least 240 days in a year to take long-term leave in any institution. But under the new labor code, you will be able to take long leave after working for 180 days (6 months). Apart from this, about full and final settlement in the new Wage Board, it has been said that employees will be paid their salary within two days of leaving the job, dismissal, retrenchment and resignation. At present, most of the rules are applicable on payment and settlement of wages, but these do not include resignation.

What is the latest update?

The Narendra Modi government at the Center wants to implement it for the last 2 years. But due to lack of consensus and changes in the drafts, it is getting delayed. It is all set to be implemented in the year 2022, although the date is not final yet. There are reports about the New Wage Code that it can be implemented from July 1. Let us tell you that this is completely misleading. The government has not made any such announcement yet. Whenever a policy is implemented, its notification is issued at least 15 days in advance. In such a situation, it is not possible to implement it from July 1.

Date has already been extended

The date of implementation of the new wage code has been changed several times in the past as well. The date of implementation was first kept as 1 April 2021, then it was further extended to July 2021. After that, even after fixing the date of October 2021, it could not be implemented. Explain that four labor codes are to be implemented in the New Wage Code. At present, the discussion on the draft inputs of the state is going on. A total of 26 states have filed drafts. It is discussed that some changes are being made in the new labor laws. Modi government can once again change the salary structure under the new labor code. For your information, let us tell you that the new Labor Code has been passed by the Parliament in 2019.

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