New Labor Code employees can soon get a big gift from the government. After the implementation of the new wage code, employees will have to work four days a week and employees will have 3 days off in a week. Let us know when the new wage code is going to be implemented
New Labor Code may be implemented in the country soon. The government is preparing to make big changes for the employed people. However, the government has said that at present no time has been fixed for its implementation. The central government wants all the states to implement the new labor code together. But till now the governments of all the states have not finalized the draft on their behalf. If the new labor code can be implemented in the coming months, then people working in the private sector will get many benefits.
Four new labor codes
Minister of State Rameshwar Teli had told in Parliament recently that most of the states have sent their draft rules on four labor codes. Rest of the states are working on the process of preparing it. The new labor codes are related to Wage, Social Security, Industrial Relations and Occupational Safety.
change in salary structure
If the new labor code is implemented with all the four changes, then people doing private jobs under the new wage code will get many benefits. Firstly, there will be a change in their salary structure. After the implementation of the new wage code, in hand salary will be 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 your basic salary is higher, then your contribution to FIF fund will be higher than before
This provision of the government will benefit the employees at the time of retirement, when they will get a hefty amount. Along with this, the Gratuity money will also get more. This means that your future will be financially strong.
Under the new labor code, there is a provision for four days of work and three days of leave in a week. This means that you will have to go to the office four days a week and will get three days of weekly off. However, your working hours in the office will increase. After the implementation of this rule, if you opt for a three-day weekly holiday, then you will have to work 12 hours in the office. That is, you have to work 48 hours a week. After this you will get three days weekly off.
Change in the rule of long leave
Apart from this, there will be a big change regarding long holidays. Earlier, it was necessary to work at least 240 days in a year to take long-term leave in any institution. But after the implementation of the new labor code, any employee can take long leave after working 180 days (6 months).
full and final
Regarding full and final settlement, it has been said that employees will be paid their salary within two days of leaving the job, dismissal, retrenchment and resignation from the company. At present, most of the rules are applicable on the payment and settlement of wages. However, this does not include resignation.