Officials cited the example of the Sixth Pay Commission.
Want your investments to make money as well as save tax for you? Anil Rego has some advice
'I have seen, even in my village, people hanging pictures of Communist leaders -- Jyoti Basu, Joseph Stalin, Mao Zedong -- in their drawing rooms. Could we not hang pictures of Swami Vivekananda? '
The 'partial withdrawal' is however allowed only after 10 years of contribution by the subscriber, said the draft guidelines by the Pension Fund Regulatory and Development Authority.
It is best to invest long-term surplus in stocks or equity mutual funds.
Restrict investment to Rs 50,000 for tax benefits, experts tell Sanjay Kumar Singh, but caution that taxation at maturity and compulsory annuities are dampers.
The independent institute advising the PM on jobs seems to have missed the point that the challenge is to create net additional jobs, says Mahesh Vyas.
FM proposed rationalisation of various tax exemptions.
Damage from new shenanigans can be contained if regulators move quickly when something does not smell right, counsels Debashis Basu.
More incentives will be given to agriculture sector for increasing agriculture production.
The 40 per cent exemption benefit is applicable only for employees.
Railway hospitals will offer postgraduate courses for medical students.
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.
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
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.
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.
Temporary workers not only lack job security, they get less pay and an inferior overall package.
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).
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.
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.
EPFO manages a huge corpus of over Rs 6 lakh crore (Rs 6 trillion).
Conservative investors and those in the lower tax bracket should opt for these, experts tell Sanjay Kumar Singh
Aadhaar now has legal backing but it still faces challenges of privacy and data sharing
You can still save money, says Samkit Maniar
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 overall message to the middle class is: the days of freebies are over.
