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Take-Home Salary, PF Contribution & Work Hours, May Change From July 1

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Since the Center intends to implement new labour laws starting on July 1 as per reports, the in-hand salary, contribution to the Employees' Provident Fund, and working hours may alter dramatically.

 

Four new labour laws that the government has released are all expected to have a big impact on how much an employee is paid and how long their workweek is.

Take-Home Salary, PF Contribution & Work Hours, May Change From July 1

The newly prescribed labour laws specify the number of changes that will cause employees' work hours, PF payments, and take-home pay to increase.

According to the new laws, companies can increase the standard workday from 8 to 12 hours. The number of working days per week will be cut in half to four, but the number of hours worked per week as a whole won't change. A total of 48 hours must be worked each week according to the new wage regulation. However, the company will have to provide the workers with three weekly days off.

The new codes' implementation date has not yet been made official, but according to reports, it might be implemented on July 1. The draught guidelines for the Code on Wages have already been published by 23 states and Union Territories (UTs).

 

Employees might see longer workdays, change in PF contributions, a four-day work aweek, and a drop in take-home pay when the new codes come into effect.

Read more about: labour salary provident fund law
Story first published: Saturday, June 25, 2022, 11:13 [IST]
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