An Overview of the New Labour Code and its Financial Impact

Munimji Training And Placement Academy05 Feb, 2021Finance

? While offering salaries in the private sector the employers generally restrict the component of basic salary to bare minimum to keep its minimum its own contribution for employee provident fund (EPF) as well as payment of gratuity when the employee leaves the employment. ? The balance part of the salary is paid to the employee in the form of various allowances like house rent allowance, conveyance allowance, leave travel allowance and special allowance being the biggest component for people in high salary range.