The central government is busy to put the new labour code into effect that will change employees' working system. But when will the nation's new labour code come into effect? Although the date and time are uncertain, one thing is confirmed: it will be implemented soon.
Companies might need to change their work plans, and salary structure and also provides flexible workplaces and flexible hours to employees.
The central government wants all the states to implement the new labor laws. This idea seeks to strike a balance between people's personal and professional lives. The four new codes pertain to the new Labour Code Wage, Social Security, Industrial Relations, and Occupational Safety.
3 days holiday in a week
The three-day weekly off is the most interesting benefit that employees may get with the new labour law. It means there is a provision for three holidays and four days of work in this system. However, the number of hours worked will increase. You will need to work for 12 hours a day and take three days off every week.
Big Change in Holidays
In addition to this, there will be a major change in the holidays. Before, taking long-term leave from any organization, it was necessary to work at least 240 days a year. But now you have to put in 180 days (6 months) of work under the new labour laws. However, under the new labor code, you can take an extended leave of absence after 180 days of employment.
In-hand Salary will come down
The take-home pay, or in-hand salary, will be less in your account when the new wage code is put into effect. The government has specified in the new rule that each employee's basic salary must be at least 50% of his total salary (CTC). Your PF contribution will rise if your base pay rises. With this, employees will get a substantial sum upon retirement. Additionally, the gratuity money will rise. This will secure their future financially.
Equal Wages for Men and Women
Union Labour Minister Bhupendra Yadav recently said that we have rationalized the old laws and considered occupational safety and wage standards to ensure fair wages for both men and women. He said that 29 different Acts have been converted into four new labour codes.
