Code on Wages and its implication Employee & Employer perspective Thursday, 3 MARCH 2022 6:00 pm to 7:45 pm MMA MANAGEMENT CENTER
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New Wage Code 2021: How Will It Impact Employees and Employers? The Union Budget 2021 proposed implementing the New Wage Code 2021 with effect from April 2022. The New Wage Code is an attempt by the government of India to simplify various regulations related to wages. The definition of ‘wage’ in the Wage Code Bill 2019 has been altered. According to the new definition,
MROFTALP
‘wages’ or an employee’s monthly basic salary cannot be less than 50% of the net CTC (Cost To Company).
Employees belonging to the private sector will also be affected, with a marginal reduction in the take-home salary. An evening seminar is being organised by MMA and NIPM to share insights on
The New Wage Code 2021.
The discussion will focus on: 1.
How does the New Wage Code impact the business community?
2. How the New Wage Code will affect the taxes paid by employees? 3. How does the New Wage Code 2021 impact the take-home salary component? 4. What changes in payroll processing are expected with the introduction of the New Wage Code?
Conclusion: The State governments have to bring in their own rules and guidelines to implement the New Wage Code 2021. The compliance cost might be there, and a lot of paperwork will also need to be done, but the general opinion is that the new wage code is employee positive. A galaxy of panellists will share their insights on the most important legislative for the benefit of management professionals.
05:15 PM
Registration & High Tea
06:00 PM
Welcome Address
Gp Capt R Vijayakumar (Retd), VSM Executive Director, MMA
06:05 PM
Mr S Rajendren
Overview
EMMARGORP
Chairman, NIPM, Madras Chapter & Chief General Manager-HR & IR, JK Tyres, Chennai
Keynote Address
06:10 PM
Mr Sai Prasad Advocate / Partner, Sai Raaj Associates
06:30 PM
Panel Discussion on the theme
Distinguished Panelists:
Code on Wages and its implication – Employee & Employer perspective"
Dr Vijay Deshpande
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Moderator:
Mr Ravichandiran
HR Advisor - Global Business, JK Tyre & Industries Ltd
Mr A Soundararajan
Former General Manager HR
State President, CITU
Rane NSK Steering Systems Ltd
Mr Amaladoss Mariasusai Director HR, Tempel
07:15 PM
Q&A
07:45 PM
Vote of Thanks
Mr T A Mathew Gunaseelan Hon. Secretary, NIPM Madras Chapter Vice President HR, Indo National Ltd
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