 "loans, aum, assets, banks, investment, shares, stocks, funds")
The government has notified the draft rules under the Code on Wages 2019. According to it, from April 2021 your wage (which includes basic pay and dearness allowance) must be at least 50 per cent of total pay for the purpose of calculation of gratuity and provident fund contributions.
Experts say the new rules will enhance social security. Prashant Singh, business head compliance and payroll outsourcing, TeamLease Services says, “On the one hand, it will reduce employees’ take-home salaries. On the other, they are likely to get higher gratuity payments. Employers’ contribution to employees’ retirement corpus may also rise.”
These changes may,
