The Union ministry of labour and employment may implement the new labour codes July 1 this year, according to a report. The central government has been working on designing the four new labour codes, under which there will be significant changes in terms of an employee’s salary, his or her PF contributions and work hours. The central government is likely …
Employers may have to revise offer letters if the new Code on Wages becomes effective from April 1, 2021, which may result in a lower take-home salary for a majority of employees. “Given that the 50 percent of the wages has to be basic pay and the allowances cannot be above that threshold, it will definitely have an impact on …
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