7th Pay Commission Latest updates: Your Take-home Salary, PF And Gratuity Likely to Affected From April 1

7th Pay Commission Latest News: The salary of the government and private-sector employees is expected to be changed after the implementation of the new wage code that is likely to come into effect from April 1, 2021. Notably, the Centre’s new wage code has the provision to have the employee’s basic salary at 50 per cent of their net monthly CTC, which means that they will not get more than 50 per cent of their net monthly salary in form of an allowance (monthly allowance can’t be more than 50 per cent), thus affecting the salary structure, including in-hand, PF and gratuity. Also Read – 7th Pay Commission Latest News Today: Centre Announces Massive Rs 80,000 Hike in THIS Ceiling – Deets Inside

“The rulemaking process is already underway for four labour codes which include a new wage code”, Zee Business quoted Secretary Labour & Employment Apurva Chandra as saying. Elaborating further, Chandra asserted that the ministry would soon be in a position to bring into force the four Codes,— on wages, industrial relations, social security and welfare, and safety and working conditions. Also Read – 7th Pay Commission Latest News And Update: Supreme Court’s Big Relief For Central Govt Employees, Pensioners | Read on

How Your PF, Gratuity and take-home Will be Affected After The Implementation of New Wage Code? Also Read – Apply For These Govt Jobs Without Passing UPSC Examination And Get Salary as Per Recommendation of 7th Pay Commission

After the implementation of the new wage code, employees’ take-home pay may be reduced from the financial year 2021, while components like PF and Gratuity may see a hike. However, it is not confirmed if the wage code gets implemented from April as the Narendra Modi-led government has not announced any deadline for its execution.