There will be a review of employee compensation arrangement in the light of the new rules.
Home and kitchen appliances, electronic products, apparel and B-segment cars stand to gain.
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
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
'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.
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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).
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.
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.
Temporary workers not only lack job security, they get less pay and an inferior overall package.
You can still save money, says Samkit Maniar
Conservative investors and those in the lower tax bracket should opt for these, experts tell Sanjay Kumar Singh
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.
'There is still scope for selective stockpicking.'
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.
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.
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 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
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.
Fresh investments are constrained by tepid demand.
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.
Siddaramaiah announces free LGP gas, universal health scheme in budget
The new 10 per cent dividend tax will be payable only on dividend income over and above Rs 10 lakh threshold in a year, according to an amendment to the Finance Bill 2016 approved by Lok Sabha.
'Like doctors, health workers, police, bankers are also COVID warriors,' notes Tamal Bandyopadhyay.
Jaitley's fifth Budget has provided little relief to the middle class.
The Prime Minister's Office has decided to set up a panel, led by former chief statistician T C A Anant, to deliberate on whether the enterprise-level quarterly data, which is released by the labour bureau, should be discontinued.
What is it about Arohan that puts it in the top league of microfinance institutions in the country?
Tax Guru Anil Rego answers your personal income tax queries.
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