𝗡𝗲𝘄 𝗣𝗮𝘆 𝗦𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗮𝘀 𝗽𝗲𝗿 𝗖𝗼𝗱𝗲 𝗼𝗻 𝗪𝗮𝗴𝗲𝘀 𝟮𝟬𝟭𝟵 The month of Apri | Code on Wages

𝗡𝗲𝘄 𝗣𝗮𝘆 𝗦𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗮𝘀 𝗽𝗲𝗿 𝗖𝗼𝗱𝗲 𝗼𝗻 𝗪𝗮𝗴𝗲𝘀 𝟮𝟬𝟭𝟵

The month of April may bring in a host of changes in the employees' pay structure, once the new wage code is brought into effect. The government's notification on Code on Wages 2019 may reduce the take-home pay of employees next financial year ie, April 2021 while components like PF and Gratuity might rise. This is based on the grounds that the new wage code mentions provision entailing that the employee's basic salary will be at least 50 percent of his/her net monthly CTC. Hence, if this provision comes into effect, it will mean that employees will not be able to get more than 50 percent of his/her net monthly salary in form of allowance.