{"id":36408,"date":"2025-12-03T10:04:15","date_gmt":"2025-12-03T04:34:15","guid":{"rendered":"https:\/\/ascent-hr.com\/?p=36408"},"modified":"2025-12-05T10:24:00","modified_gmt":"2025-12-05T04:54:00","slug":"new-labour-codes-may-reduce-take-home-salary-but-lower-tax-outgo","status":"publish","type":"post","link":"https:\/\/ascent-hr.com\/en-my\/resources\/in-the-press\/new-labour-codes-may-reduce-take-home-salary-but-lower-tax-outgo\/","title":{"rendered":"New labour codes may reduce take-home salary, but lower tax outgo"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"36408\" class=\"elementor elementor-36408\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-71fdb43b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"71fdb43b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div 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vc_custom_heading no_stripe consulting_heading_font  text_align_left\" ><h1 style=\"text-align: left;line-height: 50px;font-weight:700\" class=\"consulting-custom-title\">New labour codes may reduce take-home salary, but lower tax outgo<\/h1><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d54bbc elementor-widget elementor-widget-stm_post_details\" data-id=\"9d54bbc\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"press\" data-widget_type=\"stm_post_details.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"post_details_wr  consulting_elementor_post_details\">\n    \n<div class=\"stm_post_info\">\n\t<div class=\"stm_post_details clearfix\">\n\t\t<ul class=\"clearfix\">\n\t\t\t<li class=\"post_date\">\n\t\t\t\t<i class=\"fa fa fa-clock-o\"><\/i>\n\t\t\t\tDecember 3, 2025\t\t\t<\/li>\n\t\t\t<li class=\"post_by\">Posted by:\t\t\t\t<span>AscentHR<\/span>\n\t\t\t<\/li>\n\t\t\t<li class=\"post_cat\">Categories:\t\t\t\t<span>In the Press, Industry Story<\/span>\n\t\t\t<\/li>\n\t\t<\/ul>\n\t\t<div class=\"comments_num\">\n\t\t\t<a href=\"https:\/\/ascent-hr.com\/en-my\/resources\/in-the-press\/new-labour-codes-may-reduce-take-home-salary-but-lower-tax-outgo\/#respond\"><i class=\"fa fa-comment-o\"><\/i>No Comments <\/a>\n\t\t<\/div>\n\t<\/div>\n\t\t\t<div class=\"post_thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"988\" height=\"550\" src=\"https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/10\/Economic_Times_in_the_press-988x550.webp\" class=\"attachment-consulting-image-1110x550-croped size-consulting-image-1110x550-croped wp-post-image\" alt=\"Press thumbnail with the economic times logo\" srcset=\"https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/10\/Economic_Times_in_the_press-988x550.webp 988w, https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/10\/Economic_Times_in_the_press-350x195.webp 350w\" sizes=\"auto, (max-width: 988px) 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data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/economictimes.indiatimes.com\/wealth\/save\/new-labour-codes-may-reduce-take-home-salary-but-lower-tax-outgo\/articleshow\/125734148.cms\" target=\"_blank\" title=\"link to The Economic Times website article\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"28\" src=\"https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/10\/et-logo-300x28.png\" class=\"attachment-medium size-medium wp-image-22993\" alt=\"Logo of Economic Times\" srcset=\"https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/10\/et-logo-300x28.png 300w, https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/10\/et-logo.png 548w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-04f8ca9 elementor-widget elementor-widget-text-editor\" data-id=\"04f8ca9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h5 style=\"line-height: 2px;\"><strong>Synopsis<\/strong><\/h5>\n<p>Greater clarity is needed on the impact on EPF contributions of employees with basic monthly salaries of over Rs 15,000 and whether variable or performance-linked payouts will be included in CTC.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-da938d2 elementor-widget elementor-widget-text-editor\" data-id=\"da938d2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>With the Government of India deciding to implement four new labour codes from 21 November, employers and employees will have to consider rejigging their cost-to-company (CTC) remuneration packages.<\/p>\n<p>The four codes include the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020; and the Occupational Safety, Health and Working Conditions Code, 2020.<\/p>\n<p>Depending on your remuneration structure and employment agreement, your take-home pay will go down, unless your CTC is revised upwards. Also, if your employees&#8217; provident fund (EPF) contribution increases, your tax liability will shrink.<\/p>\n<p>Here&#8217;s how the new labour codes will impact your wallet:<\/p>\n<h5>Will the new codes impact my salary immediately?<\/h5>\n<p>These will replace the existing 29 labour laws, but to be sure, the central and state rules are awaited for the actual rollout on the ground. &#8220;Despite partial notifications, the full implementation of the labour codes is still pending, meaning the existing EPF Act, Gratuity Act and other laws continue to operate in practice,&#8221; says Kunal Sharma, Founder and Managing Partner, Taraksh Lawyers &amp; Consultants. In an interview with The Economic Times, Union Labour Secretary Vandana Gurnani indicated that the central rules will be notified in 2.5-3 months.<\/p>\n<h5>How will my compensation structure change?<\/h5>\n<p>The significant change that will impact employers and employees is the revision to the definition of basic wages. This now includes basic pay, dearness allowance and retaining allowance. &#8220;50% of the total remuneration (or such percentage as may be notified) shall be added back to compute wages, ensuring consistency in calculating gratuity, pension, and social security benefits,&#8221; the labour ministry press release issued on 21 November said.<\/p>\n<p>Put simply, your basic wages will be considered to be 50% of your cost-to-company for the purpose of calculating your social security benefits, such as employees&#8217; provident fund and gratuity, among other things. &#8220;The uniform definition also introduces an exhaustive specific list of exclusions from the ambit of &#8216;wages&#8217;, such as house rent allowance, conveyance allowance, overtime allowance, etc. Suppose the quantum of exclusions exceeds 50% of the total remuneration. In that case, the amount in excess of 50% needs to be added back into the bucket of inclusions to constitute &#8216;wages&#8217;,&#8221; says Rashmi Pradeep, Partner (Head &#8211; Southern region), Cyril Amarchand Mangaldas.<\/p>\n<p>Until now, the percentage of basic salary varied across organisations, with many choosing to restrict it to 30-40% of the total compensation.<\/p>\n<p>To be sure, organisations may not have to hike basic wages, but the new definition will undoubtedly be used to compute EPF, gratuity, and other social security benefits.<\/p>\n<h5>I have been employed for many years. Will my company change my salary structure too, or will this benefit only new joiners after the above EPF rules are finally notified?<\/h5>\n<p>Labour codes will apply to all, not just new joinees. &#8220;Companies will therefore need to be mindful of salary structuring for all their existing employees as well as new joinees, and the consequential financial impact on employee benefits and payouts,&#8221; says Pradeep.<\/p>\n<h5>Will my employees&#8217; provident fund (EPF) contribution rise?<\/h5>\n<p>Not necessarily. It depends on your current basic salary, EPF contribution rate and your employer&#8217;s stance.<\/p>\n<p>The statutory EPF contribution rate &#8211; 12% by employers and 12% by employees &#8211; applies to employees with a basic salary of less than Rs 15,000 per month. So, such employees see their take-home pay shrink.<\/p>\n<p>Others with higher salaries (&#8216;excluded employees&#8217; under the EPF Act) can opt for a minimum contribution of Rs 1,800, depending on their agreement with their employers. In practice, though, many large organisations voluntarily stick to the statutory contribution rate, meaning that such employees will also see their EPF contributions rise and their take-home salaries dip.<\/p>\n<p>&#8220;For employees earning less than Rs 15,000 per month (basic pay), there may be an impact on net take-home due to (higher) EPF contribution. For those earning over Rs 15,000, the EPF impact would need to be seen depending on the rules and any changes in the EPF scheme,&#8221; says Divya Baweja, Partner, Deloitte India.<\/p>\n<h5>Will my income tax outgo be lower under the new framework?<\/h5>\n<p>Yes, your tax payable could see a reduction, assuming employers and employees continue to voluntarily contribute 12% each to EPF, the Rs 15,000 threshold under EPF provisions notwithstanding. &#8220;The mandated increase in EPF contributions doesn&#8217;t just build your retirement fund; it actively reduces your taxable income. You are swapping some immediate liquidity for a lighter tax bill today and a significantly stronger financial safety net for the future,&#8221; says Archit Gupta, Founder and CEO, Cleartax.<\/p>\n<p>This is because employers&#8217; contribution to your EPF is exempt even under the new tax regime, subject to an overall cap of Rs 7.5 lakh per annum on employers&#8217; retiral contributions. Under the old tax regime, even employees&#8217; EPF contribution is eligible for tax deductions of up to Rs 1.5 lakh under section 80C.<\/p>\n<p>For example, an employee with an annual CTC of Rs 25 lakh will see her tax payable decrease by close to Rs 11,000, from Rs 2,74,799 to Rs 2,63,874, due to the new code.<\/p>\n<h5>Will my performance-linked variable pay be factored into the calculation of my social security benefits?<\/h5>\n<p>Clarity is needed on this front. Employees are bound to wonder whether their performance-linked variable pay will be taken into account to compute 50% basic wages. &#8220;It is likely to be treated as wages when it forms part of the CTC and is covered by the employment contract. There is no specific mention of variable pay in the excluded list of allowances in the definition of &#8216;wages&#8217; under the Wage Code, 2019,&#8221; says Kuldip Kumar, Partner, Mainstay Tax Advisors. Even if it were to be mentioned, it would still be indirectly included in wages if, together with other excluded allowances, it were to exceed 50% of the total remuneration, according to Kumar.<\/p>\n<p>Such variable payouts are linked to the employee&#8217;s and the company&#8217;s performance for that financial year. The amount is not fixed, so how will it be taken into account for computing social security benefits?<br \/>Some experts feel that the variable pay is part of your CTC, and the 50% threshold that determines your wages will include this component as well.<\/p>\n<p>&#8220;<em>If such variable pay, along with other excluded components, exceeds 50% of the total payment in that month, then such excess beyond 50% will be added back to the wage definition and social security contributions, as well as other defined payouts like gratuity, ESI, need to be computed accordingly,<\/em>&#8221; says <strong>Rajendra Sappa, CDO, Ascent HR Technologies.<\/strong><\/p>\n<p>However, employers and employees will have to wait for the final central rules to ascertain whether the variable component will be included in the wages definition or not.<\/p>\n<h5>Will all employees be eligible for gratuity after one year?<\/h5>\n<p>No. Only fixed-term employees (hired for a specific duration under a contract) will be eligible for gratuity after one year, whereas regular employees must wait five years. &#8220;For the permanent workforce, gratuity becomes payable only after five years of continuous service, except in cases of death or disability, where the five-year condition has always stood waived,&#8221; says Sharma. While gratuity is paid only at exit, many employers include it in CTC, which impacts take-home calculations.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-top-column elementor-element elementor-element-9d56c19 elementor-hidden-tablet elementor-hidden-phone\" data-id=\"9d56c19\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9d5724f elementor-widget elementor-widget-stm_sidebar\" data-id=\"9d5724f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"stm_sidebar.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n<div class=\"stm_sidebar consulting_elementor_sidebar\">\n\n            \t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"17483\" class=\"elementor elementor-17483\" data-elementor-post-type=\"stm_vc_sidebar\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-86c5a23 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"86c5a23\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-86c64eb\" data-id=\"86c64eb\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9c694df elementor-widget elementor-widget-heading\" data-id=\"9c694df\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Other Press Articles<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6853d8a elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"6853d8a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ecc6a9d elementor-widget elementor-widget-stm_news\" data-id=\"ecc6a9d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"stm_news.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"consulting_posts_box consulting_elementor_posts\n\t\t\t\tlist\t\t\t\t\">\n\t\t\t\t\t<ul class=\"consulting_posts posts_per_row_\">\n\t\t\t\t\t\t<li class=\"post_item\">\n\t<div class=\"post_inner\">\n\t\t\t\t<div class=\"news_item_info\">\n\t\t\t<h5 class=\"news_item_title line_none\">\n\t\t\t\t<a href=\"https:\/\/ascent-hr.com\/en-my\/resources\/in-the-press\/the-growing-gap-between-education-employability-in-young-india\/\">The Growing Gap Between Education &#038; 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