New labour codes decoded: The government has introduced new labour codes that have wide-ranging implications for your salary structure, provident fund contributions, bonus payout, ESI benefits, gratuity payout and more. The biggest change that the labour codes have brought about are in the way your wages are calculated. This broader coverage will lead to a higher base for calculating employee benefits. Some of the key provisions of the new labour codes include minimum wages, gratuity payout for fixed term employees after a year of service, night shift for women, benefits for gig workers, uniform definition of wages etc.

How do the new labour codes impact your salary components, gratuity payout, PF contributions etc.? We ask experts: The definition of ‘wages’ under the n

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