It’s not known where this news cropped up from, but the fact is that there is no confirmation that the new labour law will be implemented from July 2022. There were assumptions, speculations and several analyses that with the implementation of labour codes, the in-hand salary for the employee will change as the employee’s basic salary will now be at least 50 per cent of their gross monthly salary. New Labour Law: 4-day work a week, 12 hours a day.
Besides, there were also media reports that claimed that in New Labour Law companies will go for 4-day week and three weekly offs, and also that the work hours will be 12 hours a day. Reverting on a query by Moneycontrol, the Union Ministry of Labour & Employment, clarified that the new labour law will not be implemented on July 1, 2022. “It’s not getting rolled out on 1 July. The discussions and deliberations on final contours of the four codes are still on. Do not go by speculations,” a senior government official told Moneycontrol.
Even in the past, there have been several dates fixed for implementation of these new labour law but every time it has been deferred further. Currently, the complete settlement of salary and dues are done after 45 days to 60 days from an employee’s last working day, and in some cases, it goes up to 90 days. But, according to the new rules, a company must pay the full and final settlement of wages and dues within two days of an employee’s last working day following their resignation, dismissal or removal from employment and services.
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Under the new labour law, employees would be allowed to get three week-offs. But, employees would have to work for not more than 48 hours. Employees who work for 8 hours every day will get only one week off. However those who work for 12 hours every day will get three week-offs. Those who work 9 hours per day will get 2 week-offs. Hence, the offs depend on the work hours respectively. The new labour codes also allow increase in the maximum number of overtime hours from 50 hours to 125 hours.
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The government’s notification on Code on Wages 2019 may reduce the take-home pay while components like PF might rise based on some factors. But, the employees would not be able to get more than 50 percent of their salary in the form of allowance. This also means that there will be a consequent rise in PF contribution of the employee. Though in New Labour Law it is compulsory to work for 48 hours, the week off may increase depending on working hours.
The New Labour Law bring the eligibility criteria for a new hire to take a leave of absence down to 180 days from the previous 240 days. The Factories Act has currently provides annual/earned leave of 12 working days for all the workers who have worked at least 240 days in a year. This has now been reduced to 180.30 holidays in 1 year are now allowed in Government departments, however, defence employees would get 60 holidays in a year.
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