Workers' leave: Government workers will get 300 leaves; stay informed about the major announcement

Workers' leave: Government workers will get 300 leaves; stay informed about the major announcement

Workers' leave: Government workers will get 300 leaves; stay informed about the major announcement

Budget 2024: Employees' accrued leave might rise from 240 to 300 days. The Modi administration may decide shortly to raise the amount of paid time off for workers. The government is debating reforms to the Labor Code's regulations governing working hours with officials from the Labor Ministry, labor organizations, and business.

Budget 2024: Employees' accrued leave might rise from 240 to 300 days. The Modi administration may decide shortly to raise the amount of paid time off for workers. In relation to modifications to the Labor Code, the government has made a number of choices on new regulations pertaining to, among other things, working hours, annual leave, pensions, PF, take-home pay, retirement, and so on. Representatives from the Labor Ministry, Labor Union, and Industry, as well as some others, are still in attendance. The demand in this was to raise the workers' earned leave from 240 to 300 days. This time, it's anticipated that the budget may come up for discussion.

The number of earned leaves will rise.

Labor union members want to see an increase in the maximum amount of earned leave from 240 to 300 days. In September 2020, the Parliament enacted new labor reform legislation. The federal government is now working to put them into effect as quickly as feasible. Despite its desire, the government is unable to put them into effect as quickly as it would want. It is anticipated that the administration will be able to say something in this respect in the budget this time around.

These modifications will take place.

The Labor Code stipulates that the base pay must make up at least 50% of the total compensation. The majority of workers' pay structures will alter as a result. The amount deducted for PF and gratuity will rise in tandem with an increase in base pay. This will lower the current wage. On the other hand, PF can rise.

The budget will be unveiled on February 1st.

On February 1, 2024, Union Finance Minister Nirmala Sitharaman will make her sixth presentation of the Union Budget 2024. The last budget of the Modi government's second term will be presented by Nirmala Sitharaman since the Lok Sabha elections will take place shortly after. conducted around the nation. In this case, the government may issue a special proclamation to appeal to its support base, particularly the working class. The declaration about include labor legislation in the budget might come from the government. The government has long intended to enact the labor legislation nationwide, but it is taking longer than expected because of disagreements among the states. Nirmala Sitharaman, the minister of finance, has said that although there won't be any significant announcements in the budget, the administration may make a few special announcements to woo supporters.