Changes in basic pay structure will ease pay programme administration
20 Feb 2021 by The Economic Times
The new compensation rules, which are part of the Code on Wages passed by the Parliament last year, will become effective from April 1, 2021. As per the new rules, allowances of employees cannot be more than 50 per cent of their total compensation.
Though this new move will have an impact on take-home pay and accruals, industry leaders believe this will benefit in the long-run.
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