The Donald Trump-led US Government tabled the new H1-B Bill in the US House of Representatives and it is already giving jitters to the Indian IT sector.The new bill speaks about more than doubling the minimum salary of H-1B visa holders to USD 130,000, which is going to shoot up cost of sending on an employee to the US, which dovetails into hitting the Indian IT market adversely.
The Bill ‘High-Skilled Integrity and Fairness Act of 2017’ was introduced by California Congressman Zoe Lofgren prioritises. He advocated allocation of visas to those companies willing to pay 200% of a wage calculated.
This is more than double of the current H-1B minimum wage of USD 60,000 which was established in 1989 and since then has remained unchanged.
It is noteworthy, the visa sponsors, who are employers, are sorted by the number of Labor Condition Application(LCA) submitted. According to a report, a new LCA is needed if the foreigner worker changes his or her work location (even within the same state and same company), because the prevailing wage of the position depends on geographic location.
Meanwhile, the new H1-B Bill seeks to remove the 'per country' cap for employment based immigrant visas.
If the Bill gets passed in the US, these are the top 10 Indian companies that will get adversely affected