From 1 April (1st April 2021), the central government can make big changes for the employed people. Major changes can be made in the gratuity, PF, and working hours of the jobbers. It is believed that there may be an increase in the PF of the employees.
From 1 April (1st april 2021), the central government can make big changes for the employed people. Major changes can be made in the gratuity, PF and working hours of the jobbers. It is believed that there may be an increase in the PF of the employees. At the same time, his take home salary may be reduced. Apart from this, many changes can also be seen in the balance sheet of companies.
Why can there be change?
Let us tell you that these changes can happen due to the three Wages Code Bill (Code on Wages Bill) passed in Parliament last year. These Bills are likely to come into force from April 1 this year.
Also, Read This: Can Gratuity be availed before five years? There will be a change in Rules
Let us tell you what kind of changes can happen-
1. Changes in salary – According to the government plan, from April 1, the basic salary (basic salary and dearness allowance in government jobs) should be 50 percent or more of the total salary. The government claims that both employers and workers will benefit from this change.
2. PF may increase – Also according to the new rules, while there will be an increase in your PF, your hand salary will be reduced. Explain that the basic salary should be 50 percent or more of the total salary. After this change, the salary structure of most people can change. Explain that by increasing the basic salary, your PF will also increase because it is based on your basic salary.
3. Proposal to work for 12 hours – Apart from this, it has also been proposed to increase the maximum working hours to 12. Apart from this, there is a provision to include extra work for 15 to 30 minutes in overtime. Currently, if you work extra for less than 30 minutes, then it is not counted in overtime.
4. Half an hour break after working 5 hours – In addition, there will be a ban on working more than 5 hours continuously. The government believes that employees should be given a break of half an hour after working for 5 hours.
5. Retirement amount will increase – Retirement amount will also increase due to an increase in PF amount. After retirement, people will get a lot of help from this amount. Increasing the PF and gratuity will also increase the cost of companies as they too will have to contribute more to the PF for the employees.
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