New labor laws from 1st July 2022!!!
A new wage code is going to be implemented in the country from 1st July. Companies are rapidly preparing for this. At present, 23 states have prepared and sent a draft for the new wedge code. It is known that for the last one year the central government is preparing to implement it, and now it is going to be implemented. There is a preparation to bring 4 labor codes together in the New-Wage Code. According to the news, some necessary changes will be made to the new labor law. Let us know what these changes will be.
Change of holidays
The New Wage Code was passed after getting support from parliament in 2019. Changes can be made in this regarding government holidays. At present, there are 30 holidays in the government machinery in a year. At the same time, 60 holidays are available in a year in the defense sector. Please note that these holidays can be cashed. At present, only 300 holidays can be cashed in case of carrying forward, but after the introduction of the new wage code, these holidays will be increased from 300 to 450.
Increase in allowance
The salary structure can be changed. Currently, Labor Ministry and Labor Union are preparing a new guideline for this. According to the media report, the allowance will be increased by more than 50 percent.
Increase in the amount of gratuity
Bhartiya Mazdoor Sangh general secretary Virjesh Upadhyay said that there was opposition to keeping a 50 percent allowance in the new salary structure, which is now being changed. Now the new labor code will also include basic salary, dearness allowances, and retaining allowances. house Rent Allowance (HRA) and Overtime Allowance have not been kept in this. Due to allowance, employees and employers will have to contribute more to PF, which will increase the gratuity amount.
