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LatestCorporate Compliance 10 July 2026

Labour Code Updates

Central government has announced the implementation of new labour codes in all states and union territories except Kerala and West Bengal. The new codes are expected to bring significant changes to India's labour ecosystem, including changes to salary structures and employee benefits. TCS has already aligned its salary structures with the new labour code requirements, and other companies are expected to follow suit. Additionally, there have been updates to EPF interest rates, EDLI scheme, and income tax department releases ITR-7 Excel Utility for AY 2026-27.

The central government has initiated steps to implement the four new labour codes in all states and union territories except Kerala and West Bengal. The new labour codes are expected to bring significant changes to India's labour ecosystem.
- Key changes include:
- Updates to salary structures and employee benefits
- Changes to EPF interest rates
- Introduction of EDLI scheme with PF-linked assurance benefit up to Rs 1 lakh
- Release of ITR-7 Excel Utility for AY 2026-27 by the income tax department
The new labour codes are expected to have a significant impact on companies and employees alike. TCS has already aligned its salary structures with the new labour code requirements, and other companies are expected to follow suit.
For more information, please refer to the original source articles.

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