New wage code 2022: Why your take home salary will be lower
New wage code 2022: After a delay of more than one year, the much awaited four labour codes on wages, social security, industrial relations and occupation safety, health and working conditions are in news again. The new wage code is hitting headline as Union Labour Minister Bhupender Yadav has exuded confidence saying the four codes may soon become a reality as around 90 per cent of states have already come out with draft rules. For those salaried employees, who are waiting for the implementation of this new wage code, it would be interesting to know that their monthly take home salary will go down after implementation of these four wage codes. On how an employees' monthly take home salary will go down in new wage code regime, Kartik Jhaveri, Director — Wealth at Transcend Capital said, "The new wage code proposes that an employees' basic salary should be at least 50 per cent of its net CTC.
Why New Wage Code May Result in Lower Take Home Salary for Employees Next Year
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