Your salary will be reduced from April, there may be trouble in paying EMI, find out what is the government's plan 2021 will knock with many new changes. 2021 will knock with many new changes. Such a central government can make a big decision about your salary. It is believed that the Central Government will implement the New Compensation Rule from April 2021 after which your take home salary will be reduced. Under the new pay rules, the salary structure of employees will have to be changed.
According to Money Control, the new rules will change the payment structure given to employees by companies. The non-allowance share is usually lower in these companies. In some cases, it is much less than 50 percent. In addition, the gratuity of the Malays and the contributions of the Provident Fund will increase. However, the salary in hand will be reduced.
At present most companies have more allowance component than basic salary. That is why the implementation of the new central government rule will have the biggest impact on private sector employees.
Benefit after retirement
Let me tell you that on the one hand, the new rule will benefit you a lot after retirement. On the other hand, lowering these hand celery can ruin your current financial planning. It will also have an effect on your household expenses, investment and EMI.
At the moment, it has been observed that forty percent of the salaried class goes towards paying EMI. In the metro city, people meet their needs by taking home, car and personal loans, so in such a situation, many people face problems due to low salary.
