0 0
In-hand salary of employees may decrease from next financial year, this new rule is going to be implemented – News in Headlines
Business

In-hand salary of employees may decrease from next financial year, this new rule is going to be implemented

Read Time:1 Minute, 18 Second

There are two important news stories for salaried employees. One good and one bad. The good news is that from next financial year, more amount will be deposited in the PF account of the employees, due to which they will get a large amount after retirement. Another bad news is that it may reduce the salary they get in-hand. Actually, the government had passed the Wage Code in Parliament last year. It will come into force from the next financial year.

The implementation of this wage code will directly affect the employees of the private sector. Let us know what is special in this wedge code. According to the new wage code, all types of allowances to employees cannot exceed 50 percent of the total salary or CTC. This means that 50 percent of the total salary or CTC of the workers will be basic salary.

Currently, most companies make up a large part of the total CTC of employees with allowances and lower basic salary. To comply with the new wage code, companies will have to increase the basic salary in the total salary of the employees and limit the allowances to 50 percent. The direct effect of this will be that the amount going to the PF account of the employees will increase.

At the same time, in-hand salary or take-home salary received by employees will decrease. Even with this new rule, employees may get less in-hand salary, but their retirement benefits will increase and they will get a better social security.

 

Happy
0 0 %
Sad
0 0 %
Excited
0 0 %
Sleepy
0 0 %
Angry
0 0 %
Surprise
0 0 %
Divya Sharma

Editor in Chief with Newsinheadlines, Author, Cover Story around Business and Entrepreneurship.

Recent Posts

YouTuber Praneeth Hanumanthu: Navigating Controversy and Consequences

In a shocking development, YouTuber Praneeth Hanumanthu has become embroiled in controversy following his detention by the Telangana Cyber Security Bureau. Initially arrested for making offensive remarks during a podcast, Hanumanthu's predicament has escalated, resulting in further allegations under the Narcotic Drugs and Psychotropic Substances (NDPS) Act after he tested positive for cannabis consumption. The Context of the Detention The origins of Hanumanthu's difficulties can be linked to a podcast he hosted, which included a conversation that many considered highly unseemly. During this episode, he made inappropriate comments regarding the dynamics between a father and daughter, igniting outrage among viewers and critics alike. This incident quickly garnered the attention of both the public and law enforcement, prompting an investigation by the Telangana Cyber Security Bureau. The primary allegation centered around his remarks, which were deemed to have crossed the boundaries of acceptable discourse. This scenario raises broader inquiries about accountability and the duties of content creators, particularly in an era where online platforms can amplify messages to a large audience. As a public figure, Hanumanthu's statements carry substantial weight, and the backlash he has encountered signifies society's increasing intolerance towards harmful rhetoric. Charges Related to Substances Things took a turn for the worse for Hanumanthu when, following his arrest, authorities opted to perform a drug test. The results confirmed the presence of cannabis in his system, leading to additional allegations under the NDPS Act. This legislation is a strict law in India aimed at combating substance abuse and trafficking. By testing positive for drug use, Hanumanthu not only worsened his legal troubles but also further tarnished his reputation. The addition of drug-related charges initiates an important discourse about the effects of substance use among influencers and celebrities. Many young individuals look up to figures like Hanumanthu, and such disclosures can have significant consequences on their perceptions and behaviors. The fallout from his actions extends beyond legal issues; it also encompasses the ethical obligations that accompany public visibility. Reactions from the Public and Consequences The public’s reaction to Hanumanthu's arrest has been varied. Many viewers voiced their outrage over both his initial remarks and his later substance use. Social media has been inundated with discussions, memes, and criticisms, illustrating the swift spread of information and opinions in today’s digital environment. Critics contend that individuals like Hanumanthu should be held accountable for their influence, particularly when it concerns endorsing a healthy lifestyle and responsible behavior. On the other hand, some supporters have rallied behind him, advocating for the necessity of empathy and understanding. They highlight the pressures that accompany being a public figure, especially in a hyper-connected world where every action is scrutinized. This divide in public sentiment mirrors a broader societal conversation about celebrity culture, accountability, and the intricacies of mental health and substance use. The Wider Picture of Substance Abuse Hanumanthu's situation is also part of a larger discourse regarding drug abuse in India, especially among the youth. As discussions about mental health and substance use become more widespread, incidents like this underscore the pressing need for awareness and education about addiction and its root causes. The stigma surrounding drug use often hampers open dialogue about the topic, leaving many to endure in silence. Moreover, the legal implications of the NDPS Act spark questions about how society addresses drug-related offenses. While the act aims to deter substance abuse, critics argue that such laws can disproportionately impact certain demographics and do not tackle the underlying causes of addiction. Conversations around harm reduction, rehabilitation, and public health strategies are increasingly relevant within the framework of these laws. Prospects Ahead for Hanumanthu As Hanumanthu navigates the forthcoming legal hurdles, his future remains unpredictable. He faces possible legal repercussions for both his unsatisfactory comments and his substance use, which could greatly affect his career and personal life. The scenario serves as a cautionary example for content creators about the consequences of their expressions and actions, highlighting the need for thoughtful engagement with their audience.…

3 days ago

Nimrat Kaur: A Journey Through Indian Cinema and International Television

Nimrat Kaur is an Indian actress celebrated for her contributions to Hindi cinema and American…

4 days ago

what is grey divorce mean | A Changing Landscape in India

Grey divorce refers to the increasing trend of couples aged 50 and older choosing to…

4 days ago

MrBeast Net Worth in 2024: The Man Behind the $700 Million Fortune

In 2024, YouTube sensation MrBeast, born Jimmy Donaldson, has captivated audiences worldwide not only through…

1 week ago

mr beast collab with carryminati

CarryMinati, also known as Ajey Nagar, has once again made waves in the Indian and…

1 week ago

Akash ambani rolls royce – akash Ambani’s Taste for Luxury

A video featuring Akash Ambani and Isha Ambani, the famous twin children of India’s richest…

1 week ago