The four labour codes on wages, social security, industrial relations, occupational safety, health, and working conditions are expected to be enacted on July 1, 2022, according to a media report.
The long-awaited implementation of four labour codes was initially planned for the beginning of the current fiscal year. After implementation, the new wage law will have an effect on working hours, salary restructuring for 4-day weeks, PF contributions, and the encashment of Earned Leaves.
13 states have so far drafted preliminary labour code rules. Uttarakhand, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Odisha, Arunachal Pradesh, Haryana, Jharkhand, Punjab, Manipur, Bihar, Himachal Pradesh, and the Jammu and Kashmir Union Territory are among these states.
Following are the new labour laws are set to take effect on July 1, 2022:
With a 4-Day Week, the official working hours may be increased to 12 hours. Companies may be obliged to provide employees four days of work instead of five, with three weeks off in between.
According to the new labour regulations, the basic salary must be at least 50% of the total salary. The majority of employees’ compensation structures are directly affected. PF and gratuity money would be withheld at a higher rate than previously. The rise in PF contribution will have a direct impact on take-home salary while increasing retirement contributions. There is also an upcoming rule that any overtime of 15 minutes or more would result in overtime compensation for the employees.

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