What requirement does the Code on Wages, 2019 mandate regarding the sum of Basic Salary, DA, and Retaining Allowance?
Answer
They must constitute a minimum of 50% of the total compensation (CTC)
The Code on Wages, 2019, introduces a uniform definition of 'Wages' requiring that the sum of Basic Salary, Dearness Allowance, and Retaining Allowance (if applicable) must equal at least 50% of the total compensation.
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