New labour laws likely to affect CTCs, take-home salary may

New labour laws likely to affect CTCs, take-home salary may come down


New labour laws likely to affect CTCs, take-home salary may come down
The new laws will prompt companies to restructure the CTC as they cap several allowances including LTA, house rent, overtime and conveyance at 50%.
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Updated: Feb 15, 2021, 09:01 AM IST
The Ministry of Labour and Employment is likely to complete the process to finalise the rules for four new labour codes or laws soon and they are likely to be implemented from the coming fiscal year. While there are proposals about four-day week and overtime limit, one thing that will directly affect the salary of employees is the impact of Cost-to-company (CTC) and the take-home pay.

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