Employees Salary Sheet - Bad news for private and government employees, their salary will be cut, know the reason
Newz Fast, New Delhi: The Central Government is preparing to implement the new Labor Code. However, no official statement has yet come from the government on when it will be fully implemented. Union Labor Minister Bhupendra Yadav recently told what is the government's plan behind implementing the new labor code.
He said in a program that new employment opportunities will be created through the new labor code. Also there will be better capital formation and skill development. Along with growth in production through digital technology, digital technology will also be used for the welfare of the workers.
Occupational Safety and Wage Standards-
In a program organized at the National Institute of Personnel Management, Pune, Bhupendra Yadav said – The aim of the new labor code is to build a litigation-free society. In this way the common citizens have to be empowered.
Also, there should not be unnecessary criminalization. We have rationalized archaic laws and revised 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 labor codes.
Four new codes-
The new labor codes are related to Wage, Social Security, Industrial Relations and Occupational Safety. Bhupendra Yadav said that under the new labor code, laws have been made to implement occupational safety.
A new environment will be created-
He told that there is a provision of social security fund in the new labor code. Laws with criminal provisions have been reduced from 1,500 to just 22 in the Industrial Relations Relations Code. Because of this, a suitable new environment will be created for both the workers and the employers.
28 crore workers got registered-
He said that the new labor code extends social security to both organized and unorganized workers. There is also a provision for registration of unorganized workers in this. He told that through 4 lakh common service centers, 28 crore unorganized sector workers have registered on e-labour portal in 7 months.
Yadav said that we have also provided insurance cover to all the workers. I also tell the labor unions that our government is committed to the welfare of the workers. All the unions have supported us.
There was talk of implementing the new labor code from July 1 itself, but all the states could not prepare their drafts on the code. Because of this the new labor code was not implemented.
Provision of 3 days weekly off-
According to the new labor code, employed people can get four days of work and three holidays in a week. In the new wage code, a provision has also been made to change the basic salary. After its implementation, take home salary i.e. in hand salary will come less in your account.
In hand salary cum-
The government has made new rules regarding pay roll. Under the new wage code, the basic salary of any employee should be 50 percent or more of his total salary (CTC).
Now if your basic salary increases, then your contribution to PF fund will also increase. In such a situation, more money will be deposited in PF than before. In this way, the employees will get a huge amount at the time of retirement.
Employees Salary Sheet - Bad news for private and government employees, their salary will be cut, know the reason
Newz Fast, New Delhi: The Central Government is preparing to implement the new Labor Code. However, no official statement has yet come from the government on when it will be fully implemented. Union Labor Minister Bhupendra Yadav recently told what is the government's plan behind implementing the new labor code.
He said in a program that new employment opportunities will be created through the new labor code. Also there will be better capital formation and skill development. Along with growth in production through digital technology, digital technology will also be used for the welfare of the workers.
Occupational Safety and Wage Standards-
In a program organized at the National Institute of Personnel Management, Pune, Bhupendra Yadav said – The aim of the new labor code is to build a litigation-free society. In this way the common citizens have to be empowered.
Also, there should not be unnecessary criminalization. We have rationalized archaic laws and revised 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 labor codes.
Four new codes-
The new labor codes are related to Wage, Social Security, Industrial Relations and Occupational Safety. Bhupendra Yadav said that under the new labor code, laws have been made to implement occupational safety.
A new environment will be created-
He told that there is a provision of social security fund in the new labor code. Laws with criminal provisions have been reduced from 1,500 to just 22 in the Industrial Relations Relations Code. Because of this, a suitable new environment will be created for both the workers and the employers.
28 crore workers got registered-
He said that the new labor code extends social security to both organized and unorganized workers. There is also a provision for registration of unorganized workers in this. He told that through 4 lakh common service centers, 28 crore unorganized sector workers have registered on e-labour portal in 7 months.
Yadav said that we have also provided insurance cover to all the workers. I also tell the labor unions that our government is committed to the welfare of the workers. All the unions have supported us.
There was talk of implementing the new labor code from July 1 itself, but all the states could not prepare their drafts on the code. Because of this the new labor code was not implemented.
Provision of 3 days weekly off-
According to the new labor code, employed people can get four days of work and three holidays in a week. In the new wage code, a provision has also been made to change the basic salary. After its implementation, take home salary i.e. in hand salary will come less in your account.
In hand salary cum-
The government has made new rules regarding pay roll. Under the new wage code, the basic salary of any employee should be 50 percent or more of his total salary (CTC).
Now if your basic salary increases, then your contribution to PF fund will also increase. In such a situation, more money will be deposited in PF than before. In this way, the employees will get a huge amount at the time of retirement.