pf contribution will increase by government

PF contribution will increase

The central government has made a provision of 50 percent or more of the basic salary of the employee in the draft of the new labor law. With the increase in basic salary, the amount deducted for PF and gratuity will also increase. The government has prepared this draft to make the future financially strong after retirement, but it will reduce the in-hand salary currently available.

Gratuity will be given on one year
If the law is implemented, an employee working for one year in a company will also be considered entitled to receive gratuity money. At present, this facility is available only to those who have worked for 5 years.