Under the new labor code being made in the country, the provision of leave for three days a week is possible in the coming days. On the announcement made for the Ministry of Labor in the budget, the Labor Secretary said that the Central Government is preparing to give an option of paid work for four working days a week and three days with it.
According to him, this option will also be put in the rules in the new labor code, on which the company and employees can decide by mutual agreement. Under the new rules, the government has increased the working hours to 12. The maximum working week limit is 48, so the working days can be reduced by five.
Giving further information on taxation of EPF, the Labor Secretary said that the tax will be levied only on the contribution of the employee to invest more than Rs 2.5 lakh. The contribution from the company will not come under its ambit or there will be no burden on it. Also, EPF and PPF cannot be added for discounts.
On the question of increase in minimum EPF pension, the Labor Secretary said that no proposal was sent to the Finance Ministry in this regard. The proposals which were sent by the Ministry of Labor and Employment have been included in the Union Budget. Labor organizations have long been demanding an increase in the monthly minimum pension of the EPF. He argues that in the name of social security, the government is paying a minimum pension of Rs 2000 or more monthly while the EPFO shareholders are getting very little pension despite paying the share.
