India’s New Wage Framework Set to Reduce Take-Home Pay for Millions Employers’ Costs Unchanged, But Salary Structures Face Big Overhaul
Bhubaneswar: In a major restructuring of how salaries are calculated across the private sector, India’s revised national wage framework is poised to significantly reduce in-hand salaries for a large segment of employees—even as overall employer cost (CTC) remains the same. Under the new rules, basic pay plus dearness and retaining allowances must constitute at least…