4-day work-week, reduced in-hand salary, higher PF: New Wage Code likely in FY 2022-23

Since labour is a concurrent subject, the Centre wants the states to implement these as well in one go.

New Delhi: The four labour codes on wages, social security, industrial relations and occupation safety, health and working conditions are likely to be implemented by the next fiscal year, a senior official has told news agency PTI. Once implemented, the new wage code will impact working hours, salary restructuring and PF contribution among the prominent ones.

The official added that at least 13 states have pre-published draft rules on these laws, while the Centre has completed the process of finalising the draft rules on these codes in February 2021. The central government has notified four labour codes, namely, the Code on Wages, 2019, on August 8, 2019, and the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 on September 29, 2020.

Since labour is a concurrent subject, the Centre wants the states to implement these as well in one go, added the official.