<h1>New Labour Codes reshape wages, boost PF and gratuity, cut take-home pay, extend social security to gig workers</h1> New Labour Codes consolidate 29 statutes into four, standardising 'wages' by capping allowances at 50% of gross pay, thereby increasing the basic wage base for provident fund, gratuity, and other social security contributions. Employees may see reduced take-home pay but enhanced retirement and social security benefits, including expanded EPF allocations. Employers face higher contribution liabilities and must restructure cost-to-company structures while benefiting from simplified compliance and fewer registers. Fixed-term workers gain parity in statutory benefits with permanent staff, while employers receive greater flexibility through higher thresholds for layoffs and closures. The Codes also extend formal social security coverage to gig and unorganised workers and mandate annual health check-ups for employees aged 40 and above.