From July 1, four labor laws will be changed, wages will be reduced and working hours will be increased

 Webmultichannel: The new labor law is going to be effective from July 1. And this law can change the lives of many. This is because the new law has changed the salary, PF benefits and social security and working hours and working days. A central government official said the four labor codes are likely to be implemented in the next financial year 2022-23. This is because several states are still in the process of finalizing the draft rules on the basis of this law. Since labor is a contemporary issue, the Center wants the states to implement these together.

However, if the new law comes into force, the amount of salary taken home by workers will be greatly reduced. Because PF will cost more money. The four-day action week will be effective. Employees have been given 12 hours of daily working hours. In other words, the working time has been fixed as 48 hours per week.

Under the new rules, workers in India may be able to enjoy a four-day work week from 2022-23 instead of the current five-day work week. This means that an employee will have 3-day leave. In this 4-day work week, employees have to work 12 hours to control their weekly work hours.

The new laws also make it clear that the maximum overtime in all sectors will increase from 50 hours to 125 hours. However the salary taken at home and the EPF contribution of employees and employers will change.

 According to sources, this will change the way an employee's basic salary and PF are calculated. Half of the salary will be the basic wage and the allowance will be limited to 50 percent.

Provident funds are made by both employers and employees. Currently, it is calculated based on the employee's basic salary and costly allowances. If the basic salary is increased, more PF will be deducted, which will reduce the salary in the hands of the employee.

According to the provisions of the new rules, the retirement corpus of employees will also increase according to the new rules.

Holiday rules will also be lined up. This includes the rationale for carrying the leaves year after year as well as the cashing of the leaves. Also, the government is considering working from a home model that has gained prominence in the epidemic.

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