Big change in the salary of ₹60 thousand CTC people! Know how much money you will get now –

New Labor Code Update: After the implementation of the new Labor Code system, a big change is being seen in the salary structure of the employees. Especially the question in the minds of the employees who get ₹ 60,000 CTC (Cost to Company) is that how much salary will they get now.

Let us understand the complete calculation in simple language.
Under the new Labor Code, it has been made mandatory to keep the basic salary at least 50% of the total CTC. Earlier, many companies used to show more allowances by keeping the basic salary less, due to which PF and gratuity were deducted less.

But now the rule has changed. If the CTC of an employee is ₹ 60,000, then according to the new system his basic salary will be around ₹ 30,000. PF (Provident Fund) and gratuity are calculated on this basis.

Now understand deductions:
PF (employee share 12%) = ₹3,600
Gratuity (approximately 4.81%) = ₹1,443 (not directly transferred to hand)
Professional Tax (depending on the state) = approximately ₹200
Putting all these together, there can be a reduction of around ₹ 5,000 to ₹ 5,500.

So what will be the in-hand salary?
After these deductions out of ₹60,000 CTC, the employee can get in-hand salary of approximately ₹44,000 to ₹47,000. However, it also depends on the company policy and other perks.

What are its advantages and disadvantages?
The new Labor Code will increase the PF and gratuity of employees, which will result in a huge amount at the time of retirement. But the in-hand salary received every month may be slightly less.

The new system is considered beneficial in the long run, but in the short term, employees may feel the impact of lower in-hand salaries. Therefore, understanding the salary structure has become more important than ever.