The Economic Times
English EditionEnglish Editionहिन्दी
| E-Paper
Search
+

New social security code likely to hike retirals, cut take home pay for salaried

New social security code likely to hike retirals, cut take home pay for salaried
New social security code likely to hike retirals, cut take home pay for salaried
The Code has widened the social security coverage by including the unorganised sector, migrant workers, gig workers and platform workers under the ambit of social security.

Synopsis

While the intention of the Code on Social Security is to increase the retiral benefits of the employee, this could impact the take-home salary. Here is a look at the various aspects of the Code and how its implementation can impact the take-home pay of an employee.

By Saraswathi Kasturirangan, Sumit Jain and Ritika BalvalliThe Code on Social Security 2020 (the Code) which integrates nine social security regulations, has received the Presidential assent and is awaiting notification of the effective date. The Acts relating to Provident Fund (PF), Employees' State Insurance (ESI), Gratuity, maternity benefits, employee's compensation, building and construction workers, etc., have been subsumed in this
Share This Article
  • GIFT ARTICLE
  • FONT SIZE
  • SAVE
  • COMMENT

To Read the Full Story, Become an ET Prime Member

Sign in to read the full article

You’ve got this Prime Story as a Free Gift

Access the exclusive Economic Times stories, Editorial and Expert opinion

Why ?

  • Sharp Insight-rich, Indepth stories across 20+ sectors

  • Access the exclusive Economic Times stories, Editorial and Expert opinion

  • Clean experience with
    Minimal Ads
  • Comment & Engage with ET Prime community
  • Exclusive invites to Virtual Events with Industry Leaders
  • A trusted team of Journalists & Analysts who can best filter signal from noise
The Economic Times