The Modi government takes 'tough' and 'big' steps for the interests of employees
Thursday - December 26, 2019 11:28 am ,
Category : WTN SPECIAL
There may be changing in the basic salary of employees
The Discussion continues on the changes in salary structure between government and industry
DEC 26 (WTN) - If you do a job, then the Modi government is introducing a new scheme related to your salary. If everything goes according to plan and all happens at some point in time, then the structure of the salary of employees can change in the New Year. After reading this, you must be thinking that after all, that there is anything Modi government going to do that will change the structure of salary? So for your information, let us know that now some part of the allowance can also be included in the basic salary of the employee. According to the information received from the media, an agreement has consented between the government and the industry.
In fact, according to the new salary structure of the Modi government, the basic salary of any employee at any cost cannot be less than 50 percent of the total salary. However, the government has to decide how much allowance will be given to the employees in all this and currently, the government is going on with the industry about this. For your information, let us know that in the new structure of salary, basic salary will increase and at the same time there will be an increase in PF contribution, but due to an increase in the PF contribution, there may be some decreases in employees’ take-home salary.
Although the industry is ready on the proposal of the central government to change the salary structure, the industry wants the government to answer the first few questions of this change, such as how much allowance will be contributed in basic salary and how much allowance is added in basic salary Will go?
Also, the industry has questions about which allowances will be part of the basic salary and which allowances will be excluded from the basic salary? These are the issues that have been under discussion for a long time and the Supreme Court had also asked to ensure this in one of its directions. At the same time, according to the information received from the media, the industry has been prepared for the change in salary structure with the condition that the government should decide a clear category of allowances.
For your information, let us know that according to what is coming out, it is proposed to keep HRA out in basic salary. At the same time, 50 percent of the remaining allowances will be included in the basic salary. At the same time, PLI (performance-linked Incentive) will not be considered as an allowance. At the same time, there are two major demands of the industry in the change in salary structure. The first demand of the industry is that first, the government should clearly decide which allowances will be added with basic salary and which allowances will not be added.
At the same time, the industry has placed a condition that the proposal of salary structure should not be uniformly applied to all sectors and sectors should be fixed for it. For your information, let us know that now the government and industry together will separate those sectors which will be combined with changes in salary structure. On the other hand, codes on minimum wages have also been approved and the government has also started the process of making rules. Along with the rulemaking process, the basic salary can also include allowances. At the same time, the Modi government is now preparing to rein in companies with no PF deposits.
According to the information, a provision of three years of imprisonment has been made along with heavy penalties on companies that do not submit PF of employees. That is, if any company is negligent in the PF contribution of the employees, then the Modi government has made a provision for taking strict action on it. Let’s see how soon these proposed rules will be implemented and employees will be beneficiated?
DEC 26 (WTN) - If you do a job, then the Modi government is introducing a new scheme related to your salary. If everything goes according to plan and all happens at some point in time, then the structure of the salary of employees can change in the New Year. After reading this, you must be thinking that after all, that there is anything Modi government going to do that will change the structure of salary? So for your information, let us know that now some part of the allowance can also be included in the basic salary of the employee. According to the information received from the media, an agreement has consented between the government and the industry.
In fact, according to the new salary structure of the Modi government, the basic salary of any employee at any cost cannot be less than 50 percent of the total salary. However, the government has to decide how much allowance will be given to the employees in all this and currently, the government is going on with the industry about this. For your information, let us know that in the new structure of salary, basic salary will increase and at the same time there will be an increase in PF contribution, but due to an increase in the PF contribution, there may be some decreases in employees’ take-home salary.
Although the industry is ready on the proposal of the central government to change the salary structure, the industry wants the government to answer the first few questions of this change, such as how much allowance will be contributed in basic salary and how much allowance is added in basic salary Will go?
Also, the industry has questions about which allowances will be part of the basic salary and which allowances will be excluded from the basic salary? These are the issues that have been under discussion for a long time and the Supreme Court had also asked to ensure this in one of its directions. At the same time, according to the information received from the media, the industry has been prepared for the change in salary structure with the condition that the government should decide a clear category of allowances.
For your information, let us know that according to what is coming out, it is proposed to keep HRA out in basic salary. At the same time, 50 percent of the remaining allowances will be included in the basic salary. At the same time, PLI (performance-linked Incentive) will not be considered as an allowance. At the same time, there are two major demands of the industry in the change in salary structure. The first demand of the industry is that first, the government should clearly decide which allowances will be added with basic salary and which allowances will not be added.
At the same time, the industry has placed a condition that the proposal of salary structure should not be uniformly applied to all sectors and sectors should be fixed for it. For your information, let us know that now the government and industry together will separate those sectors which will be combined with changes in salary structure. On the other hand, codes on minimum wages have also been approved and the government has also started the process of making rules. Along with the rulemaking process, the basic salary can also include allowances. At the same time, the Modi government is now preparing to rein in companies with no PF deposits.
According to the information, a provision of three years of imprisonment has been made along with heavy penalties on companies that do not submit PF of employees. That is, if any company is negligent in the PF contribution of the employees, then the Modi government has made a provision for taking strict action on it. Let’s see how soon these proposed rules will be implemented and employees will be beneficiated?
