At a time when new labor laws in India are reshaping compensation frameworks across industries, SRK has chosen to lead with accountability and foresight. Under the Code on Wages, 2019, it is mandatory that basic pay, dearness allowance, and retaining allowance together constitute at least 50% of an employee’s total remuneration. This reform aims to enhance transparency, equity, and fairness in wage systems. SRK has gone a step further by increasing this component to 55%, reinforcing its belief that real progress is driven by employee welfare and financial security.
For SRK, this initiative goes beyond a structural adjustment in salaries. It represents a meaningful step toward ensuring stability and dignity in the workplace experience. Strengthening the fixed salary component provides employees with a more stable and reliable income, reducing dependence on variable allowances. It also enables higher contributions to statutory benefits such as provident fund and gratuity, thereby strengthening long-term financial security and retirement preparedness.
Over time, this change is expected to translate into increased savings, greater confidence in the future, and stronger trust in the organization. Additionally, a simplified and transparent salary structure makes it easier for employees to understand their compensation, enhancing their confidence and engagement.
This additional five percent is not merely a numerical increase but a significant step toward bringing tangible and lasting change in the lives of thousands of employees and their families.
The initiative further reinforces SRK’s deeply rooted people-first philosophy, where employee welfare, respect, and long-term financial security have consistently remained a priority, even ahead of regulatory requirements.
Commenting on the development, SRK Managing Director Jayanti Narola stated, “At SRK, we believe in setting benchmarks rather than merely following them. Going beyond the prescribed wage structure reflects our commitment to fairness, transparency, and the long-term prosperity of our people. It is a thoughtful investment in the future of those who drive our organization forward.”
Dr. Nirav Mandir, Chief Human Capital and Sustainability Officer at SRK, added, “Strengthening the fixed component of wages directly enhances the financial security of our employees. This decision ensures that the intent behind regulatory reforms is not only implemented but also meaningfully experienced in the daily lives of our workforce. It reflects our belief in creating a workplace where every individual feels secure, respected, and empowered.”
The implementationof new labor laws in India marks a significant step toward modernizing the country’s labor framework, with a strong focus on transparency and social security. SRK’s proactive approach demonstrates how organizations can treat such reforms not merely as regulatory obligations but as opportunities to create deeper and more meaningful impact.
By moving beyond compliance, SRK is setting a strong example for the industry, proving that responsible business practices and people-centric growth can progress together. This approach is further strengthened by SRK’s advanced wage management system, which is establishing new standards not only in the gems and jewellery sector but also across other industries.
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