There is going to be a big change in the functioning from July 1. In fact, with the implementation of the new labour code, there is going to be a change in the working hours, the amount deposited in pf and the salary in hand every month. In fact, according to the new labour code, the amount of work hours in the office and the amount deposited in PF can increase. At the same time, these hand salaries may decrease.
In fact, the government has already prepared the labour code and it is going to be implemented in the states. Many states are currently considering it, though the new labour code is likely to come into force from July 1. According to the news received, the government has prepared four new labour codes. It is being said that the government is preparing to implement all these labour codes as soon as possible, although some states have not prepared their own rules regarding this labour code, due to which there is a delay in its implementation. Apart from this, it is believed that the states will complete this work soon and the new rules and regulations will come into effect from July 1.
Investment and employment will increase - In fact, the government says that the new labour law will increase investment in the country, which is also likely to increase employment. Not only this, but the new labour law will give companies scope to make changes in their office hours. With this, companies can set the timing of the office according to their work. At present, the work is done in the office for 8-9 hours, but now it can be increased to 12 hours. However, to compensate for these more hours, companies will have to pay 3 offs a week. This will be done so that the limit of working hours in the week is maintained.
What will be the change - Apart from this, another important change can be seen on the money deposited on behalf of companies in the take-home salary and provident fund. In fact, the new labour code can set the basic salary of the employee at 50 percent of the gross salary. However, this will benefit the employees and the deposit money of the employee and the company in PF will increase. Not only this, but the take home salary will decrease for some employees, especially those working in the private sector. At present, 23 states have prepared labour code rules. However, the remaining 7 states are working on it. At the same time, the government has divided the Central Labour Law into 4 different codes and includes conditions such as salary, social security, relationship between industry and employees, safety during work and working conditions with health. Yes, and all these codes have been passed by the Parliament. But labour laws fall in the concurrent list, so the Centre wants states to implement these rules at once.