#NEWDELHI: The important news is that your PF money may
increase soon This means that more money may be deducted from the previous
Provident Fund The government is going to bring a new labor code in a hurry As
a result, the in-hand salary of the employees will be reduced The amount of PF
will increase to 7 This rule was supposed to be implemented from April 1, 2021,
but for some reason it has been postponed However, this rule will be introduced
in the next 3 to 4 months
The new rules will reduce the in-hand salary of employees but
PF contribution. 6 will increase For this gratuity will increase 7
The four labor codes that the government is going to
introduce include the Industrial Relations Code, the code on occupational
safety, the health and working conditions code and the social security code.
According to the Wage Code Act 2019, the basic salary of the
employees of any company will not be less than 50% of the total CTC. After the
introduction of the new rules, you will get 50% of your CTC as basic salary The
amount of your money in the Provident Fund and Gratuity will increase
After the introduction of this rule, bonuses, pensions,
conveyance allowance, house rent, housing benefits and overtime will not be
included.
The new code will have only three components in your salary
There will be first basic, second DA and third retention payment.
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