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Highlights In hand pay to shrink. PF, Gratuity components to be hiked. New Delhi: Government employees may soon see several changes related to their work timing, pay structure, take-home salary, provident fund and gratuity. All these changes are likely to take place under the gamut of the Wage Code Bill. Wage Code Bill (Code on Wages Bill 2019) was passed in Parliament in 2019. The government wanted to implement the rules in the new labor code from April 1, but had to defer it to allow more time to states to prepare and also to companies for changing their HR policy. The new draft law propose...

Highlights In hand pay to shrink. PF, Gratuity components to be hiked. New Delhi: Employees may soon see several changes in their work timing, pay structure, provident fund and gratuity. As per latest media reports the changes in pay structure will mean reduced pay while there will be hike in PF and gratuity portions. Fresh media reports said employees Gratuity and provident fund (PF) will increase while their take home salary will decrease. Under the new definition of wage, allowances will be a maximum of 50 percent of the total salary. Employees whose basic salary is already 50 per cent or ...