The Central government is likely to implement four labour codes on wages, social security, industrial relations and occupation safety, health and working conditions by the next financial year.
Under these new codes, there’s a likelihood that employees in India may have to work for four days a week from next year, as opposed to the current five-day workweek. But, the labour ministry has informed that employees will have to work for 12 hours on those four days, to meet the 48-hour weekly work requirement.
After the implementation of New Labour Codes, several aspects related to employment would change – including the take-home salary, working hours, number of weekdays and PF.
It may be recalled that the Centre was planning to implement the labour codes from April 2021 but the idea got dropped because labour is a concurrent subject and both the Centre and states need to notify rules under these four codes.
“The four labour codes are likely to be implemented in the next financial year of 2022-23 as a large number of states have finalised draft rules on these,” a senior government official was quoted by PTI as saying. “The Centre has completed the process of finalising the draft rules on these codes in February 2021. But since labour is a concurrent subject, the Centre wants the states to implement these as well in one go,” added the official.
Around 13 states have already pre-published draft rules as the four new labour codes will most likely be implemented in the financial year of 2022-2023.
The take-home salary of employees will decrease after the implementation of new labour codes. Sources said that employees and firms will have to pay more money for PF and that’s why in-hand salary will decrease.
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