New labor law: Government can implement from July 1, know what will change

Work for only four days in a week, increase in PF, calculation within two days of leaving the company, but there will be a reduction in in-hand salary

The long wanted new labor law is going to be implemented soon. The government is preparing to implement it from July 1 and if this happens, then instead of five/six in a week, only four days of work will have to be done. At the same time, your PF sharing will also increase. However, after the implementation of this rule, the in hand salary will be reduced.

Let us tell you that after the implementation of the new labor law, only 4 days of work will have to be done in a week. But the working hours in the day will be increased from 9 to 12. If the company implements a 12-hour work shift, then it will have to give three days off to the employees. That is, employees will have to work 48 hours in a week. Let us tell you, in the 12-hour shift, the employees will get half-an-hour leave twice a day. Also, if you resign from work in any company, the account will be done in just two days.

On the other hand, from the point of view of salary, according to the new labor code, the total salary of the employee should be 50% or more of the basic salary. In such a situation, with the introduction of this rule, in hand salary i.e. the salary coming or getting into the account every month will decrease but PF will increase. Increasing PF will result in huge savings for the employees. Also, after the implementation of the new labor code, the amount of pension will also increase. Apart from this, there may also be an increase in medical insurance, incentives.

It is worth noting that the new labor law was earlier to be implemented only in October 2021. But then this was not done due to the assembly elections of 5 states. In such a situation, it is believed that the government can implement it from July 1. However, no official information has come out from the government regarding its implementation.

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