Under the new salary law, there was a talk of 50% of the basic salary in the salary received every month, which is currently 32%. In this context, the occupation of people could increase their take home salary.
New Wage Code
The new wedge code was being implemented from April 1. Currently, it has been banned. The central government has banned it till the next announcement. According to the news published in the Economic Times report, this rule is not going to come into force from April 1.
Earlier, under this rule, there was talk of increase in take home salary.
In fact, under the new salary law of the government, there was a talk of 50% of the basic salary in the salary received every month, which is currently 32%. In this context, the occupation of people could increase their take home salary.
Take home salary could have increased in this way
Your basic salary, dearness allowance and retaining allowance are included in the basic basic salary. By adding these three items, your basic salary is counted. In the new code, there was talk of adjusting PF, gratuity, dearness allowance, travel allowance and house rent allowance in salary. At the same time, the basic CTC is 50 percent, that other allowances are not more than 50 percent. Similarly, changes in PF and other allowances will also reduce the tax burden. The effect of which will be seen on your take home salary.
Even these items will not get benefit
Actually, before implementing the new wage code in the cabinet, every aspect was examined. Talking about the perks especially, after examining all the 196 allowances, the cabinet decided to exclude 51 of them while retaining 37. So that the working people can reduce the load and they can get more benefits. At the same time, gratuity is available only after working for 5 consecutive years in a company, but under the new law, employees will be entitled to gratuity only after working for 1 year. Now the government is not implementing this code at the moment, so it is a shock to the employed people.
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