The government has released four new labour codes after working on it for several months, with an aim to revamp the rules dictating the age old relationship between employees and their employers. The newly prescribed labour codes lay down a host of schemes, under which there will be significant changes in terms of an employee’s salary, his or her PF contributions and work hours. The labour codes also feature changes in working conditions, labour welfare, health and safety. These laws, once implemented, will make organisations across the country undergo paradigm shifts.
Here are the changes one can expect under the four new labour codes
Working Hours and Days Off
Under the new labour laws, one major thing that is likely to be implemented is the change in workdays. Once the new rule comes into effect, companies will be able to make employees work for four days instead of five, and there will be three week offs. However, there is a catch to it. Employees will need to work for 12 hours a day instead of eight, since work hours will not get reduced. This will be applicable to every industry, but may change from state to state depending on the rules set by a particular state.
PF Contributions and Take Home Salary
Another major change that this is going to bring in is that the ratio of the take home salary and the employees and employer’s contribution in provident fund. As per the provision of the new codes, the basic salary of the employee will have to be 50 per cent of the...
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