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.
The EPFO is now developing a software that will help show retirement savings in cash and ETFs components separately. At present the account only shows the savings as gross cash component.
Reliance Capital Asset Management Company (RCAM) and ICICI Securities Primary Dealership have been selected to manage Rs 60,000 crore (Rs 600 billion) provident fund corpus of coal industry workers.
The 15% invested every month in equity would be allotted to subscribers in the form of units.
As per the EPFO income projections, retaining 8.8 per cent rate of interest for the current fiscal would have left a deficit of Rs 383 crore. Hence, it was lowered to 8.65 per cent
The much-awaited minimum monthly pension of Rs 1,000 and a higher wage ceiling of Rs 15,000 for social security schemes run by retirement fund manager EPFO will be implemented from September 1.
It is not much of an issue just now, but it could become one if the idea of caste census captures socio-political imagination, going beyond electoral tags and identities, says N Sathiya Moorthy.
A notification by the MHA said a trust by the name 'Shri Ram Janmbhoomi Teerth Kshetra' has been registered with its registered office at R-20, Greater Kailash Part-1, New Delhi, 110048. The ministry also said as directed by the SC, the UP government has already issued the allotment letter of a five-acre plot to the Sunni Central Waqf Board for construction of a mosque.
Retirement fund body EPFO will cut exposure in corporate bonds and park more funds in the secure government securities.
The finance ministry had last year notified a new investment pattern for EPFO.
EPFO is managing a corpus of Rs 6.5 lakh crore.
A 5-judge Constitution Bench headed by Chief Justice Ranjan Gogoi, in its historic verdict delivered on a court holiday, held that the lawsuit of the deity was "within the period of limitation" and granted the title decree in its favour.
An open letter written by women employees of KFA alleged that the company did not pay salaries
The SIT clicked photos and shot videos of the suspected places to examine the nature of the crime again.
The members of these trusts enjoy tax and other benefits at par with EPFO subscribers.
In Chanda's defence, one can always say, why would the Videocon Group take care of her husband as a quid pro quo to get a loan? After all, the group has taken money from the entire banking industry and ICICI Bank's share in the pie is not even 10 per cent. So, if it had a quid pro quo with Chanda to get the money, it must have had similar arrangements with other banks, too. If this is not the case, one must accept that it had got money from all banks, including ICICI, without any under-the-table conditions, points out Tamal Bandyopadhyay.
A part of Rs 6.5 lakh cr corpus may be used to set up Workers' Bank.
Since the RBI is the 'lender of the last resort', as per terms of arrangement, Yes Bank would have to exhaust immediate liquid assets before accessing this fund.
Labour Ministry has notified new investment pattern for EPFO.
The labour ministry has notified the more flexible investment pattern of 2008 for the Employees Provident Fund Organisation (EPFO), but minus its provision for investment in equity.
The decision will benefit over nine crore such account holders having total deposit of around Rs 32,000 crore.
Union Minister Ramvilas Paswan on Thursday criticised the decision taken by authorities at the Somnath temple in Gujarat to restrict entry of non-Hindus inside, sans permission, and stated that the Central government has never supported any discrimination on the basis of religion.
The National Green Tribunal on Thursday issued notices to the Centre, the Delhi government, the police chief and Asaram Bapu's trust on a petition seeking direction to demolish an alleged illegal 'ashram' constructed by the self-styled godman in the ridge area in New Delhi.
Six firms have qualified for managing EPFO funds.
The Prime Minister's Office has suggested that EPFO should deploy 15 per cent of its funds as loan for low cost housing saying it would generate a credit flow of Rs 70,000 crore (Rs 700 billion).
'There is no question of diverting funds. This government is pro-poor, pro-worker and pro-progressive.'
The objective behind the move is to "retain the membership of PF subscribers and to address the social security needs at the time of unemployment."
Out of around 80 million accounts that were analysed, there were 10 million records with only names and no other details about the subscribers, including their date of joining, date of birth and father's name, among others, in the EPFO's records.
Sebi pointed out instances of misleading the investors by reporting incorrect data on investor complaints, instances of inappropriate utilisation of funds meant for investor education, such as spending on programmes meant for financial advisors, charging of expenses to the said funds for stationery items such as notebooks, planners and calendars, and charging of expenses without adequate records.
Two elderly Chinese aerospace experts are hospitalised after a violent attack by a 'Princeling', states Jayadeva Ranade, the distinguished China expert and retired RA&W officer, highlighting the power the 'Princelings' ironically hold in the Communist People's Republic.
A formal sector worker can contribute towards pension scheme till the age of 58.
The VHP leadership notes that 'ghar wapsi' wasn't something started after the Modi govt took over. Archis Mohan reports
While being the all important member of the BJP's parliamentary board, Kumar is often regarded as the "Delhi face" of the Karnataka BJP and also for the state government who could be counted upon for taking issues concerning Karnataka.
A six-time member of Parliament, Kumar had climbed the political ladder steadily from being an Rashtriya Swayamsevak Sangh worker to be the Union minister in his thirties.
Post office savings of 1, 2 and 3 year term deposits and 5-year recurring deposit currently fetch 8.4 per cent interest per annum.
Deposits of Rs 3 lakh are "justified" if a person has an annual taxable income of Rs 10 lakh and the tax department will "not touch" him.
Togadia said he would go on an indefinite fast from Tuesday to push the Hindutva cause.
If the changes being considered by the EPFO become a reality, investors may have to be more active in deciding equity preference and when to withdraw money, reports Sanjay Kumar Singh
Here's how EPF stacks against other investment options
