To help revive the economy battered by COVID-19, Finance Minister Nirmala Sitharaman on Monday announced a slew of measures, including Rs 1.1 lakh crore credit guarantee scheme for improving health infrastructure, and enhancing the limit under the ECLGS by 50 per cent to Rs 4.5 lakh crore for the MSME sector facing liquidity crunch. Sharing the details of stimulus package, the finance minister said this comprises eight relief measures and other eight measures to support the economic growth. She announced Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors, including health sector, which includes guarantee cover for expansion or for new projects. Besides, she said, additional Rs 1.5 lakh crore limit enhancement done for Emergency Credit Line Guarantee Scheme (ECLGS) scheme.
Private firms will have to maintain a minimum net addition to their workforce each month from October this year to June 2021 to get the Employees' Provident Fund subsidy for the new recruits.
The EPFO pays rate of return to its subscribers on the basis of returns it generates from its investments.
The second edition of the Virat Kohli-backed Indian Sports Honours were held on Friday in Mumbai where the top performers in 17 sporting disciplines were felicitated.
Deputy Superintendent of Police Ramaswamy Parthasarathy, who arrested Chidambaram in the INX Media case last year, has been conferred with the President's Police Medal for Distinguished Service.
An employee should always keep his bank account active inorder to claim PPF after he joins a new office.
In an era of falling interest rates, major trade unions on Friday pitched for restoring 12 per cent return on small savings schemes
Did you know that your EPF contribution also goes towards insuring you, giving you and your spouse a pension apart from giving you a lump sum amount after retirement?
FM's proposal came under immediate attack from various employees unions
Last week, the Ministry of Labour and Employment suspended the second in command in EPFO's Hyderabad office.
Wild celebrations broke out at a joint sitting of parliament when Speaker Jacob Mudenda announced the news.
When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
Experts say it's better to transfer the amount to one's current EPFO account than opting for a withdrawal.
Zimbabwean President Robert Mugabe is reportedly fighting for his life in a Singapore hospital with an undisclosed illness.
Retirement fund manager EPFO that has initiated the process of seeding KYC details like PAN, Aadhaar of contributing members for making Universal Account Number (UAN) has set a target of seeding 2 crore (20 million) bank account data by end of this month.
EPFO fund body EPFO is likely to increase the maximum amount assured under its Employees' Deposit Linked Insurance Scheme (EDLI) to Rs 550,000 from the existing Rs 360,000.
Chelsea have signed left back Marcos Alonso from Italian top-flight club Fiorentina on a five-year contract, the Premier League side announced on Wednesday. The 25-year-old Spaniard is no stranger to English football, having played for Bolton Wanderers from July 2010 to July 2013. He also spent five months on loan at Sunderland in 2014.
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EPFO had paid 8.5 per cent interest rate to subscribers in 2012-13, which was higher than 8.25 provided in the 2011-12 fiscal.
It is best to invest long-term surplus in stocks or equity mutual funds.
According to TimesJobs.com's latest Compensation and Benefit survey, employees prefer in-hand salary rather than medical facilities, post-retirement benefits and other perks.
In January, the Employees' Provident Fund Organisation had asked the field staff to ensure the collection of data in respect of member joining on or after March 1, on a monthly basis and in respect of existing members by June 30, 2013.
Employees Provident Fund Organisation is likely to issue permanent account numbers to employees.
Amidst a debate in the government over investment of employees' provident funds in the stock market, former RBI Governor Bimal Jalan cautioned that any such move will have to be backed by a government assurance for making up for losses, if any.
Niranjan Hiranandani, chairman of London-listed Hirco Plc, has resigned in the backdrop of the Central Bureau of Investigation (CBI) inquiry against him in a possible breach of the Employees Provident Fund Act.
Labour Ministry has justified EPFO's declaring 9.5 per cent interest for 2010-11.
United Liberation Front of Asom chief Arabinda Rajkhowa was released from the Guwahati Central Jail, two days after his bail plea was granted by a designated TADA court.
Retirement fund body EPFO is planning to settle all claims like transfer and withdrawal of provident fund within three days, a move that will benefit over one crore such claimants every year.
'At 23, he has experienced what very few of his age have: Poverty at home, a stint in jail for his student activism.' 'His experience told him that if you want your rights, you have to fight for them.'
EPFO has recently issued Universal PF Account Numbers for 4.17 crore contributing members.
The EPFO launched one-page simplified forms for withdrawal.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The Labour Ministry has relaxed investment norms for retirement fund manager EPFO, but refrained from allowing the body to invest a part of its huge corpus of around Rs 5 lakh crore in equity markets.
Withdrawals from EPF and NPS to have same tax rates.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The Budget touches a few highs and lows as far as personal finance is concerned, and one needs to be aware of them in order to optimise on one's investment plans.
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