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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...

Labour ministry notifies draft rules under Occupational Safety, Health and Working Conditions Code SECTIONS Share Synopsis The ministry has invited suggestions on the draft Rules in the next 45 days following which the above Rules will be finalised. This would enable the government to put in place the required technical committee for smooth implementation of the OSH&WC Code. ET Bureau The labour ministry has notified draft rules pertaining to setting up of a technical committee under the Occupational Safety, Health and Working Conditions Code (OSH&WC Code), 2020. The committee is expected to ...

Recent policy changes by Prime Minister Narendra Modi's government represent a welcome signal to the global investor community. The combination of a reform-oriented government, a large population with rising consumer demand and the accelerated rate of technological adoption mean that India is in a unique position to capitalise on the opportunities in a post-pandemic world, says the Indian-born Candian Billionaire V Prem Watsa, chairman of Fairfax. In a letter, which was jointly signed by Fairfax CEO Chandra Ratnaswami, to the shareholders, he said, the political stability has facilitated im...

On February 8, Labour Secretary Apurva Chandra in a media briefing said that he Ministry of Labour and Employment is likely to complete the process to finalise the rules under the four labour codes paving the way for making reforms are reality soon.

New labour codes to affect employees' in-hand salary, companies wage bill While the new definition of wages will increase the social security component of compensation packages, it could also mean lesser take-home salary for employees BusinessToday.In | February 15, 2021 | Updated 15:26 IST Rules for new labour codes to be notified soon The central government is set to notify the rules under new labour codes, which will have an impact on employees' cost to company (CTC) as well as employers' wage bills. Employers will have to modify the employee compensations once the extensive labour reform...