New wage Rule 2021, lower salary, higher EPF contribution. Lower Salary from 1st Apr 2021.

#labourlaws #basicsalary #CTC #PF

Your take home salary may reduce from April 1. CA Amit Kumar explains why.
Your take-home salary might come down from the next financial year. This is because companies are set to restructure their employees' salary packages to align them with new wage rules proposed by the government. According to the draft rules, part of the Code on Wages 2019, the allowances component of an employee's gross pay - or total cost to company (CTC) - cannot exceed 50 per cent of the total compensation. The basic salary has to be 50 per cent of total pay. Changes in the take-home salary are hot topics of discussion and a sensitive one at that.

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