Here are some frequently asked questions about the one rank, one pension scheme
It has initiated efforts to get full details only now.
The draft scheme, seen by PTI, said it will provide an option and a respectable exit route to employees who have reached a level of saturation in their career, may not be at the peak of their performance, have some personal issue or want to pursue their professional or personal life outside the bank.
The Bharatiya Janata Party, which won 25 seats in the Himachal Pradesh elections, suffered a setback in the assembly segments falling under Shimla, Hamirpur and Kangra parliamentary constituencies in the hill state.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
Tax-saving investments should not be made with the sole purpose of saving tax, but should also help an individual grow his wealth, suggests Archit Gupta, founder and CEO, ClearTax.
The government wants to reduce the rate of contribution - part of the employee's share - for a class of workers depending upon age, income or gender, without changing the contribution from the employer's share.
With its age-old fascination for education, southern states have done better than the North. Start-ups, IT hubs, and industry majors setting up shop have changed the face of the South. Nearly 79% of global offices set up by international conglomerates in India are in the South. Almost 46% of tech unicorns are from the South. The GDP per person in the South is 4.2 times higher than the North. None of these indicators can be ignored by any central government, whatever the political compulsions, notes Ramesh Menon.
The new TDP government will have to mop up over Rs 10,000 crore to fulfill the financial requirements for July, a retired senior bureaucrat said.
The government has also revised the minimum wages for unskilled non-farm workers upwards by 42 per cent to Rs 350 per day
Priyanka Gandhi led the party's charge in Himachal Pradesh with several rallies and was also closely involved in strategy planning for the polls.
Functioning in several departments related to revenue collection has also been affected. Revenue collection has reduced by Rs 17,000 crore in March.
The demands include better package for trackman, upgradation technician's grade, improvement of pay scales of running staff and clearance of arrears, among others.
The Reserve Bank of India's retail direct scheme is off to a good start but the central bank itself sees it as an additional avenue and not an alternative to the existing one. Still, a reasonable expectation is to have at least 100,000 investors within a month of it being operational, and that could be well under way, if the latest trend is to sustain. The registration in the retail direct platform has crossed 35,000.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
Tomar had discussed the two proposals with trade unions on June 24 and assured that the government will take at least two weeks to take a decision.
This will incentivise employers to recruit unemployed persons and also bring into books the informal employees.
Directing the DISCOMS to make the payments to the employees within three months, the Delhi high court asked them to adopt a method to pay pension, gratuity, leave encashment etc.
Most insurers aren't comfortable with subscribing to the National Pension System as they see it as competition.
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
The proposal had attracted strong criticism from the salaried class.
It had earlier proposed cutting it down to Rs 250 crore due to slow progress in enrollment of new employees.
A panel set up by the trustees of India's largest pension fund has recommended an interest rate of between 8.0 and 9.0 per cent for the Employees Pension Fund scheme in 2003-04, a member of the panel said on Thursday.
Rajasthan Chief Minister Ashok Gehlot on Friday announced his government's decision to form 19 new districts and three new divisions in the state, earmarking Rs 2,000 crore for development of infrastructure for them.
Postings to places at an altitude above 1,000 metres but less than 1,500 metres, between 1,500 and 3,000 metres, and above 3,000 metres entail different rates of allowances -- the higher the location, the bigger the allowance, reveals Tamal Bandyopadhyay.
As per the recommendations of the 2nd National Commission on Labour, the ministry is codifying existing 44 central labour laws into four codes by simplifying, amalgamating and rationalising the relevant provisions of the legislations.
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
EPS has had its way on most things, alliance-wise. A week earlier, he reiterated that he would not re-admit OPS and Sasikala Natarajan back in the party. It was a message not just to detractors in the AIADMK. It was even more so for the BJP leadership in Delhi. Even more important for the AIADMK was their demand for accepting EPS as the chief ministerial candidate of any alliance that the party would form, observes N Sathiya Moorthy.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The number of fresh formal jobs generated in a month increased to a seven-month high in April, signalling a recovery in the formal labour market in the country, according to the latest monthly payroll data released by the Employees' Provident Fund Organisation (EPFO) on Thursday. In April, the number of new monthly subscribers under the Employees' Provident Fund (EPF) sequentially increased by 18.77 per cent to 887,438 from 747,146 in March.
Sukhu said that he was a warrior and will fight till his last to ensure the welfare of the state and its people.
Charging the Indian Banks Association with going back on its commitments to the employees on increasing their wages and introducing a pension scheme, CPI leader Gurudas Dasgupta said he apprehended "prolonged confrontation" which would put the entire financial system in jeopardy.
In the event of the BJP's poor performance in the assembly polls this year and in early 2025, Modi's hold will get further weakened because he will no longer remain the invincible electoral persona tightly controlling the machine at his disposal, asserts Nilanjan Mukhopadhyay.
'These include economic prosperity, a promising future for youth, empowerment for women, a thriving society, robust healthcare, quality education, elevated living standards, agricultural prosperity, and robust social security coupled with effective governance.'
Ask your HR department for details about the fund, trustees and returns
The normal operations, including payment and settlement activities in the Reserve Bank of India (RBI), are likely to be affected on Friday with its employee unions going on one-day strike to press their demands on pension.
