New labour codes boost gratuity but trim take-home pay
Employees are noticing a dip in take-home salaries due to new labour codes impacting salary structures. Increased Provident Fund and gratuity contributions, now based on a higher basic salary component, are the primary reasons. Companies are issuing explanations, with some, like SAP India, implementing measures to offset the reduced monthly pay and stabilize employee compensation.🕒 1 min read
Employees are noticing a dip in take-home salaries due to new labour codes impacting salary structures. Increased Provident Fund and gratuity contributions, now based on a higher basic salary component, are the primary reasons. Companies are issuing explanations, with some, like SAP India, implementing measures to offset the reduced monthly pay and stabilize employee compensation.
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