7th Pay Commission Latest News: Govt Employees' Salary, PF, Gratuity Going to Change From April If Centre Implements New Wage Code Bill | Details Here
7th Pay Commission Latest News Today: Union Finance Minister Nirmala Sitharaman made it clear that the Central government is going to implement New Wage Code Bill 2021 from April 1, 2021. And if the Centre implements the New Wage Code Bill 2021, it will have a direct impact on the central government employees' salary, provident fund and gratuity. Moreover, the private sector employees' salary will also be impacted. According to a report by Zee News, as per the Wage Code Bill 2021, an employee's monthly basic salary can’t be less than 50 per cent of the net CTC.
In other words, the Central government's New Wage Code Bill 2021 will not allow employees' allowances such as Dearness Allowance (DA), House Rent Allowance (HRA), Travel Allowance (TA), etc.