The Union Cabinet has approved a significant increase in the mandatory EPFO wage ceiling from Rs 15,000 to Rs 25,000 per month, a move expected to bring over 51 lakh additional employees under mandatory social security coverage.
EPF wage ceiling rising to Rs 25,000 could increase employer statutory contributions by Rs 1,200 monthly per employee.
Private hospitals accounted for 30.8 per cent of current health expenditure in FY23, while pharmaceuticals and medical goods contributed more than 21 per cent, underlining continued dependence on private healthcare and medicine spending.
TVK chief Vijay has released his manifesto for the Tamil Nadu Assembly elections, focusing on women's welfare, education, agriculture, and job creation.
Actor-politician Vijay's TVK party is likely to form the government, bringing focus to their election promises, including gold for marriage, financial assistance for women, and job creation.
The scheme, which will be effective from July 1, 2019 would benefit 36 million employees and 1.28 million employers. The ESI Act applies to factories with 10 or more workers and provides for medical, cash, maternity, disability and dependent benefits to employees drawing a salary of up to Rs 21,000 per month.
TVK founder Vijay, upon becoming Chief Minister, approved free electricity units and special forces for women's safety and anti-drug efforts. He pledged a commitment to secularism and social justice, asserting his authority as the sole power centre.
BJP MLA Dhirendra Singh has urged the Uttar Pradesh government to formulate a comprehensive policy covering education, healthcare, housing and social security for labourers.
The DMK party in Tamil Nadu has released its manifesto for the upcoming Assembly elections, promising a range of welfare measures focused on women, education, and economic development, including financial assistance and job creation initiatives.
India Post is reinventing itself from a traditional mail service into a modern logistics, e-commerce, and real estate powerhouse. Several post offices situated inside major university campuses, called Gen Z post offices, have received a facelift, with cafe-like decor and wi-fi availability.
From appointment letters becoming mandatory to gig workers receiving social security to enhanced rights for women and contract labour, the changes reflect India's attempt to balance ease of doing business with stronger worker welfare.
Kerala, Tamil Nadu and West Bengal have been fiscally stressed for a considerable period of time, and there are no easy ways to mobilise revenues to meet the cost of the promised freebies, particularly in the prevailing difficult economic scenario, points out M Govinda Rao.
Be it poor, middle class, upper middle class or rich, every individual who is 70 years and above is eligible for getting Ayushman card and will receive free treatment up to Rs 5 lakh at any of the AB PMJAY empanelled hospitals once the expanded scheme gets launched.
Minister of State of Labour and Employment, Harish Rawat introduced the Employees' State Insurance (Amendment) Bill, 2009, to carry out necessary changes in the Employees State Insurance Act, 1948.
Buyers should understand the distinction between the losses the policy covers, those that need add-ons, and those it excludes.
The Labour and Employment Ministry has requested the Finance Ministry to keep Employee State Insurance and Employee State Insurance schemes out of the ambit of service tax as they are social security schemes.
The government aims to cover around 60 million people in the age category, irrespective of income, with an assured 5 lakh annually to be shared within the family.
The Rs 5 lakh free health insurance cover would benefit senior citizens of around 4.5 crore families. Eligible beneficiaries would be issued a new distinct card under the scheme, the government said.
Union Home Minister Amit Shah addressed rallies in Birbhum, West Bengal, promising to tackle corruption and infiltration if the BJP wins the upcoming elections. He criticised the TMC government and outlined welfare schemes for women, youth, and farmers.
A section of industry may need to begin compliance immediately, even as most states are yet to notify their rules.
Union Home Minister Amit Shah addressed poll rallies in West Bengal, promising to tackle corruption and illegal immigration if the BJP comes to power. He criticised the current TMC government and outlined the BJP's plans for the state.
A nationwide strike called by central trade unions saw a mixed response across India, impacting various sectors and states differently, with some areas experiencing disruptions while others remained largely unaffected.
Union Home Minister Amit Shah addressed poll rallies in West Bengal, attacking Mamata Banerjee's TMC and promising development if the BJP wins the state elections. He accused Banerjee of appeasement politics and vowed to prevent the construction of a Babri Masjid-like structure in Bengal.
The states will be asked to tap the Centre's JAM trinity.
Gig workers are usually spoken of in the context of the sharing economy, like Uber, Ola drivers, delivery persons for Zomato and Swiggy and so on. This is the first time such workers will be covered under India's social security law.
India's market regulator is moving ahead to include real estate investment trusts (Reits) in benchmark indices in a phased manner, Sebi chief Tuhin Kanta Pandey said, while asserting that the regulator was working to strengthen the link between infrastructure building and the markets.
Such employees will get an allowance in cash equal to half of their wages computed on the basis of average salary for their entire service, labour minister Oscar Fernandes said during the question hour. Such employees will get an allowance in cash equal to half of their wages computed on the basis of average salary for their entire service, labour minister Oscar Fernandes said during the question hour.
The government on Saturday announced a string of measures, including a pension for dependents of those having lost their lives due to COVID-19, among other benefits for the families who lost their earning members to the pandemic.
The Central Bureau of Investigation on Wednesday conducted searches at the premises of Sunak Bali, who was an aide of Satya Pal Malik when he was the governor of Jammu and Kashmir, and 11 other locations in Delhi and Rajasthan in the alleged insurance scam case, officials said.
The Central Bureau of Investigation has asked former Jammu and Kashmir governor Satya Pal Malik to answer certain queries in connection with an alleged insurance scam in the Union Territory, officials said on Friday.
Tejashwi who is meeting senior Conngress leader Ashok Gehlot on Wednesday is expected to be announced as the CM face of the Mahabgathbandhan on Thursday.
While Employees State Insurance Corporation data shows job creation in February had dropped, Employees' Provident Fund Organisation said it had actually shown robust growth.
Retirement fund body EPFO added 16.26 lakh subscribers on a net basis in November 2022, which is 16.5 per cent higher compared to a year ago, the labour ministry said on Friday. The provisional payroll data of Employees' Provident Fund Organisation (EPFO) released on Friday by the ministry highlighted that the EPFO has added 16.26 lakh net members in the month of November 2022. The data indicate a 25.67 per cent increase in net additions compared to the previous month in October 2022, a labour ministry statement said.
The states fear they would end up funding both their own scheme as well as the newly-announced National Health Protection Scheme.
'This year overall hiring has seen a slight improvement as compared to the dip seen during the last financial year.'
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.
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The RBI advisory follows a labour ministry request earlier this year seeking the central bank's expertise to identify gaps in EPFO's investment strategy and fund management practices, including accounting, risk management, and internal governance.
The Employees' Provident Fund Organisation (EPFO) is considering raising the monthly minimum wage ceiling from Rs 15,000 now to improve the coverage and bring millions of informal workers under its purview. The last increase in the minimum wage ceiling was in 2014 to Rs 15,000 from Rs 6,500.
