FM proposed rationalisation of various tax exemptions.
More incentives will be given to agriculture sector for increasing agriculture production.
Railway hospitals will offer postgraduate courses for medical students.
The 40 per cent exemption benefit is applicable only for employees.
The 600-million (approximately Rs 4,100 crore) UK Personal Accounts Delivery Authority (PADA) deal, which was recently awarded to Tata Consultancy Services (TCS) to administer the National Employee Savings Trust (NEST) scheme for 10 years, has come under the scanner of the Conservative Party.
The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund was established in March last year with the primary objective to deal with any kind of emergency situation like the one currently posed by the COVID-19 outbreak and provide relief to those affected.
There will be a review of employee compensation arrangement in the light of the new rules.
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.
Home and kitchen appliances, electronic products, apparel and B-segment cars stand to gain.
India's biggest state-run pension fund, the Employees Provident Fund, will aim to keep interest rate returns high, Labour Minister Sahib Singh said on Friday, despite an overall easier monetary climate.\n\n
After assuming power in 2014 with a full majority of its own, the BJP-led NDA government started an ambitious process of reforming labour laws in the form of codes aimed at making the framework less cumbersome with a variety of alterations. It had planned four codes each for industrial relations, wages, social security and welfare, and occupational safety, health and working conditions. To this end, 35 central labour laws were to be converted into four codes that would have had the virtue of streamlining labour relations. But none of the proposed code Bills could be converted into a law principally because neither trade unions nor industry representatives came on board. They hold the key to India's low-growth-high unemployment paradigm but the government may struggle to push them through this time as well. Somesh Jha explains why
'The rate of interest from the EPF is still attractive compared to the rates on fixed deposits, National Savings Scheme, Public Provident Fund...'
It's high time we now turn the popular question on its head -- when there is no growth in jobs for several years, how can the real GDP grow at 7 per cent per annum, says Mahesh Vyas.
The states will be asked to tap the Centre's JAM trinity.
The finance minister may stagger some of the recommendations.
T C A Anant, former chief statistician to the government, will soon be heading a panel to decide whether the monthly payroll data released by EPFO, ESIC and PFRDA could replace the quarterly enterprises-based survey on job creation by the labour bureau, the prime minister's office decided last week.
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Taxpayer will also have to forego deduction under 80CCC (contribution towards certain pension fund), Section 80D (health insurance), 80E (interest on loan for higher education), 80EE (interest on loan taken for residential property), 80EEB (purchase of electric vehicle), 80G (donation to charitable institutions), and 80G (rent paid).
Temporary workers not only lack job security, they get less pay and an inferior overall package.
AIBOC in a letter to the Prime Minister, has said the government should not expect the banking fraternity to "join the political campaign of #MainBhiChowkidar" unless issues related to merger of banks, salary revision and staff recruitment, among others, are addressed.
Conservative investors and those in the lower tax bracket should opt for these, experts tell Sanjay Kumar Singh
You can still save money, says Samkit Maniar
EPFO manages a huge corpus of over Rs 6 lakh crore (Rs 6 trillion).
The National Social Security Number will be issued to the 4 crore (40 million) members covered by the scheme on the lines of the Permanent Account Number (PAN) given by the income tax department.
Aadhaar now has legal backing but it still faces challenges of privacy and data sharing
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.
Most Asian markets ended with gains.
EPF is the major vehicle for the long-term savings of organised private sector employees.
The government will decide the interest rate on the country's largest pension fund scheme based on the rate of return on investments in the next financial year, Labour Minister Sahib Singh Verma said on Tuesday.
A lot has been written about the impact of the recommendations.
'There is still scope for selective stockpicking.'
Banks have collected about 1,500 kg of gold from temples and trusts under the Gold Monetisation Scheme (GMS) since its launch last November.
The Union Cabinet on Wednesday approved 'Mission Karmayogi', dubbed as the biggest bureaucratic reform initiative, aimed at capacity building of government employees to make them more "creative, proactive, professional and technology-enabled". The core guiding principles of the competency-driven programme will be to support a transition from "rules based to roles based" HR management to prepare the Indian civil servant for the future, according to a government statement.
The overall message to the middle class is: the days of freebies are over.
It is worrisome that salaries are consuming as much expenditure as equipment.
The move can help mop up about Rs 1.2 lakh every day for the purpose.
There is an attempt to brush aside the results of all surveys that point to a deteriorating jobs situation. This is counter-productive, says Mahesh Vyas.
Rules being drafted, to also cover unorganised sector; maternity benefit, old age pension, sickness allowance to be included
Fresh investments are constrained by tepid demand.
Pilots represented by union Vereinigung Cockpit were holding a strike at Munich airport, Lufthansa's second biggest airport after Frankfurt, from 0800-1600 GMT on Wednesday.
The curious thing is that savings instruments have not really kept pace with changing needs, although people have access to a wider variety than before.
