New Labour Code Rules: The central government is preparing to implement the new rules of the Labor Code from October 1. If this rule is implemented from October 1, then there will be a change in the way the office works.
Working hours may increase. But no company can make its employees work continuously for more than 5 hours. Companies will have to give their employees a break after 5 hours.
According to media reports, according to the rules of the Labor Code, the working hours of the employees can be changed to 12 hours. Soon, government and private sector employees may also see significant changes in their salary, gratuity and provident fund (PF).
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Important rules related to salary will change
The Labor Ministry and the Modi government want to notify the rules of the Labor Code by October 1. Parliament had in August 2019 amended the rules related to three labor codes, industrial relations, safety of work, health and working conditions and social security. These rules were passed on September 2020.
may have to work for 12 hours
The new draft law proposes to increase the maximum working hours to 12. However, the labor union is opposing the 12-hour job.
30 minutes will also be considered overtime
In the draft rules of the code, extra work between 15 and 30 minutes will also be counted as overtime by counting 30 minutes. Under the current rule, time less than 30 minutes is not counted as overtime. The draft rules forbid any employee to work continuously for more than 5 hours. Employees will be required to give half an hour break after every five hours.
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Salary will decrease and PF will increase
The basic pay from this new draft should be 50 per cent or more of the total salary. This will change the pay structure of most of the employees. With the increase in the basic salary, the amount deducted for PF and gratuity will increase because the money learned in this is in proportion to the basic salary. If this happens, the salary coming to your home will decrease, PF and gratuity money will increase on retirement.
Will get more money on retirement
With the increase in contribution to gratuity and PF, the amount received after retirement will increase. With the increase in PF and gratuity, the cost of companies will also increase. The reason for this is that companies will have to contribute more to the PF for the employees. These things will affect the balance sheet of the companies.
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