In hand salary change due to new labor code
Upload your latest compensation letter on any AI tool & give following prompt. That's how much reduced in hand salary you will get. "Please go through my compensation letter. Check all the salary components. Performance bonus is paid once every quarter. Compare the in hand salary based on current tax regime & the new labor code.consider both new & old tax regimes. Please let me know how much less in hand salary I will get"
Please note: No final date is decided on New wage code implementation & companies like TCS are still opposing it. Why? You will get to know one you will compare your in hand based on above prompt. This cut part will be added to your epf only. But as you are going or get less in hand, please plan your expenses accordingly.
As both employee and employer contribution to pf is part of the CTC they should not be much worried about it.
The only impact will be on Gratuity pay out. If someone leaves but still the gratuity is part of CTC and in so many years not every employee has stayed in tcs for 5 years or more so they might have all the unpaid gratuity over that they have earned heavy interest as well. Don't know why companies like TCS are crying on.
