Employees in India may be able to enjoy a four-day workweek beginning next year if the new labor regulations are enacted, as compared to the present five-day workweek.
Employees’ take-home pay would be reduced, and businesses would have to shoulder a greater provident fund responsibility.
According to a senior government source reported by the PTI news agency, India is set to adopt four new labour regulations covering pay, social security, industrial relations, and occupational safety by the following fiscal year starting in 2022. A variety of facets of employment and work culture, in general, may alter as a result of these new standards, including workers’ take-home pay, working hours, and the number of weekdays.
Employees in India may be able to enjoy a four-day workweek beginning next year if the new labor regulations are enacted, as compared to the present five-day workweek. Employees will have to work for 12 hours on those four days in that instance, since the labor ministry has said that the 48-hour weekly work requirement must be satisfied even if the plan is approved.
The labor regulations take on particular relevance in view of the fact that, if adopted, workers’ take-home pay will be reduced, and businesses will be responsible for a larger provident fund burden.
More PF, Less Take-Home Pay:
According to specialists evaluating the proposed labour regulations, the new legislation would significantly alter how workers compute their basic salary and provident fund contributions (PF). Employees’ monthly contributions to their PF accounts will grow under the new guidelines, while their monthly in-hand compensation would decrease.