New Labour Code: Is India Inc ready for recent changes in rules?

Many Indian companies are not able to adapt to recent changes in tax laws relating to employment benefits. A WTW study of 74 organisations shows that most are planning to review their retirement and long-term benefits. The size of these organisations ranges from less than 500 to more than 10,000 employees.

Companies are working to align their policies with the New Labour Code that comes into effect from 1 July.

71% of companies have taken some step to assess the impact of the new rules.

Here are some findings of the State of Retirement Benefits in India 2021-22 study by WTW.