From August 2, new guidelines for banking transactions will come into effect. (Photo credit:Unplash/Representative image)

  • Bulk clearing facility will now be available round the clock
  • Now important transactions such as salary, pension transfer and EMI need not wait for a working day
  • From today, new transaction charges also come into effect

Novak Djokovic has been vocal about the pay issue in tennis (Photo credit: Twitter/wimbledon)

  • PTPA shared a graph comparing the average salary of 301 to 400 ranked players against the various elite sports
  • NHL leads the way with an average salary of $2,180,530
  • PTPA was founded by Djokovic himself and it is a players-only organisation

When the wage code takes effect, the manner in which employees' basic salary and provident fund are computed will alter dramatically. (Photo Credit: Representational Image/ Unsplash)

  • The Centre might soon implement new labour codes in the next few months
  • It will increase companies' provident fund liabilities, reduce employees' take-home pay
  •  44 central labour rules will be rationalised by these four labour codes

.New Delhi, Delhi, India
The study adds that men put in longer hours at work than women. (Photo Credit: PTI)

  • Indians work for an average of 48 hours per week, the study says
  • The study was recently released by the International Labour Organisation (ILO)
  • The study notes that well-paid workers are the ones who overwork

.New Delhi, Delhi, India
At present, most private companies set the non-allowance part at less than 50%. (Photo Credit: Unsplash)

  • The new compensation rules are part of the Code on Wages 2019
  • The changes are likely to become effective from April 2021
  • The new rules states that the allowance component cannot exceed 50% of the total salary