There is great news for all the working people as now they can get relief in working hours as well as days. In fact, there are four labor codes on wages such as Social Security. Industrial Relations & Occupation Safety & Health and Working Conditions, are expected to be implemented by the next fiscal year 2022-2023 (FY23). While providing these information, one of the senior officials said that at least thirteen states have prepared draft rules for these laws.
Center Has Given Final Shape to Rules
The center has finalized rules under these codes & now states have to make their own rules, as the labor is a subject of concurrent list. Officials said that the 4 labor codes are likely to be implemented in the next financial year.
“Four labor codes are likely to be implemented in the next financial year 2022-23 as large numbers of the states have finalized the draft rules. Center had completed the process of finalizing draft rules of these codes in February 2021, but, since the labor is a concurrent subject, Center wants the states to implement this simultaneously.”
States Prepared Draft Rules
Union Labor Minister, Bhupendra Yadav said in Rajya Sabha earlier this week that at least 13 states have prepared the draft rules of the Labor Code on occupational safety, health & working conditions. Apart from this, there are 24 states & union Territories that have prepared the draft rules of the Labor Code on wages. And, 20 states have prepared the draft rules of the Industrial Relations Code & 18 states prepared draft rules of the Society Security Code.
3-Days-Off In a Week
As per information, there is a proposal to increase maximum working hours daily to 12 in the new draft law. However, you have to work only 48 hours a week. If a person works for 8 hours a day then, he will have to work 6 days weekly, whereas, if a person works for 12 hours a day, then he will have to work for 4 days a week. In other simpler words, on implementation of the law, the employees can get three days' leave instead of 1 or 2 days.
Take Home Wages To Decrease Due To Implementation of New Law
Note that after the implementation of the new labor law, the salary in hands of employees will decrease. The companies will have to bear the burden of higher PF liability. As per the draft rules, the basic salary should be 50% or more of the total salary.
It will change the structure of many employees. With the increase in basic salary, the amount deducted for PF & gratuity will increase. The money going into it is fixed in the proportion to basic salary. If this happens then take home salary of employees will decrease. However, PF & gratuity money received on retirement will increase.
