 "Take-home salary may rise under new Employees' Provident Fund law")
The aggregate wage bill of the listed private corporates expanded by 17 per cent to hit Rs 11.5 trillion in fiscal 2022-23 (FY23) driven by non-bank finance companies (NBFC), private bank, information technology (IT), consumer discretionary, industrial and auto sectors, suggests a recent report by ICICI Securities.
In FY22, the aggregate wage bill, or 'compensation of employees' (CoE), of the entire private corporate space in the economy grew 21 per cent YoY to reach Rs 30 trillion, the report said. This overtook the public sector wage bill (around Rs 28 trillion) for the first time as per
