New Delhi, April 15 -- With the new Labour Laws coming into effect from 1 April, the biggest change for post salaried individuals is in their pay structure. The shift is primarily towards long-term and retirement savings, which means your current in-hand compensation may dip.

As per the Centre, focus is on helping salaried individuals save for their retirement to sustain a healthy life following their superannuation. More funds in retirement funds also mean that one can withdraw higher amounts later in life.

The reforms have issued a "uniform definition of wages", according to which wages now include basic pay, dearness allowance (DA), and retaining allowance. Now, these three components are mandated to comprise at least 50% of an emplo...