As of now, foreign employees applying for withdrawal of provident funds are required to open bank accounts in India.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Following suggestion from Minister for Roads Nitin Gadkari, Centre seeks ideas from IRDAI and General Insurance Council on feasibility of providing insurance cover for retrenchment.
'Corporates now have multiple funding sources beyond banks, and many are sitting on large cash reserves.'
Fresh formal job creation cooled for the second consecutive month to decline to a six-month low in September, signalling a downturn in the labour markets this financial year. The number of new monthly subscribers under the Employees' Provident Fund (EPF) declined by 6.45 per cent to 891,583 in September from 953,092 in August, shows the latest payroll data released by the Employees' Provident Fund Organisation (EPFO). Besides, the net payroll additions -- calculated by taking into account the number of new subscribers, the number of exits, and the return of old subscribers -- increased by 14.9 per cent to 1.72 million in September from 1.49 million in August.
Over 25 crore workers across India are set to strike against new labour codes and privatisation, potentially disrupting banking, postal, and other essential services.
Every organisation will also prioritise the areas requiring mandatory inspection, and the cases forwarded by the CAIU will be on data and evidence basis.
A Central Bureau of Investigation team on Friday arrived at the Som Vihar residence of former Jammu and Kashmir governor Satya Pal Malik in connection with its probe in the alleged insurance "scam" in the Union territory which came to light after his statement that he was offered bribes to clear related files, officials said.
The government on Thursday announced an ambitious scheme to provide social security to eight million employees insured under Employees State Insurance Corporation and their families.
The Jan Dhan scheme restricts the scope of life insurance cover to bring down burden on the exchequer.
Opening up the corner office is fine, but will the government be able to attract talent without giving a market-rate salary?, asks Tamal Bandyopadhyay.
The CBI after registering the FIRs carried out searches on Thursday morning at 14 locations in Jammu, Srinagar, Delhi, Mumbai, Noida in Uttar Pradesh, Trivandrum in Kerala and Darbhanga in Bihar, they said.
The government has approved incentive schemes for creating 1,00,000 employment opportunities a year for the physically challenged persons in the private sector, the Lok Sabha was informed on Thursday.
With shrinking employment opportunities in the state sector, the government on Thursday approved a Rs 1,800 crore (Rs 18 billion) scheme for incentivising private sector to employ 1,00,000 disabled people a year.
Part of the dues has been pending since 1995-96 - the inception year of the Employees' Pension Scheme administered by the EPFO. The Centre also owes the EPFO more than Rs 1,000 crore towards the minimum pension scheme it had notified in September 2014.
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
The Code on Social Security, 2020 gives a lot of comfort to gig firms which recognise cab drivers or food delivery executives as 'independent contractors' who directly do business with customers with the help of their digitised platforms.
In the latest draft of the Code on Social Security Bill, 2019, the government has decided to stick to the current thresholds for providing social security benefits to workers by industry.
In a bid to enhance its equity exposure and earn higher returns for its nearly 65 million subscribers, the Employees' Provident Fund Organisation (EPFO) is considering reinvesting 50 per cent of its exchange-traded funds (ETFs) redemption proceeds back into equity. Sources close to the development said a proposal regarding this was discussed in the investment committee (IC) meeting in October last year, and the recommendation has been sent to the Central Board of Trustees (CBT), the apex decision-making body of the EPFO for its approval. The next CBT meeting is scheduled to be held on Saturday.
The Employees State Insurance Corporation on Thursday decided to increase the wage ceiling for coverage under the ESI Act from Rs 7,500 to Rs 10,000.
Sebi, which has been given powers to take action against all unregulated money pooling schemes worth over Rs 100 crore (Rs 1 billion) besides all public issuances of securities, has issued this fresh caution notice at a time when a large number of people have been duped by numerous schemes in various states and enforcement action is underway against such operators.
Gross enrolments of new subscribers with ESIC were 1.49 crore during the entire financial year 2018-19, the National Statistical Office (NSO) said in a report.
The Bharatiya Janata Party has released its manifesto for the upcoming Nagaland assembly elections, promising a special package for the eastern part of the state and establishment of a board for the holistic development of the region if the party returns to power for the second time in a row.
Aiming to make it easier for the employers to comply with the statutory requirements of the ESI schemes, Employees State Insurance Corporation has decided to provide online facility and computerise all its offices in Punjab by 2007.
Rajasthan is reeling under a huge financial burden with the state's debt having gone beyond Rs 5.59 lakh crores. Rajasthan has increased expenditure on education by 203.4 percent, by 105.4 percent on health, by 227.14 percent on housing. Its expenditure on social welfare schemes has increased by almost 2,475 per cent.
Gross enrolments of new subscribers with ESIC were 1.49 crore during the entire financial year 2018-19.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
As a result of the mass state-led scheme, the processes in the health insurance market could get simplified over time and become uniform
Gross enrolments of new subscribers with the ESIC were 1.49 crore during 2018-19.
The Ministry of Labour and Employment on Wednesday announced a scheme to financially support those who lost their jobs and were covered under the Employees' State Insurance Act, 1948. Somesh Jha explains the key features.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
This was stated by Minister of State for Health Ashwini Kumar Choubey in the House in response to a question on the number of healthcare staff, including doctors, nurses and ASHA workers who have been affected died due to COVID-19.
The ministry of labour & employment has now been mandated to seek the 12-digit unique identification number Aadhaar from people like employees and unorganised sector workers seeking registration, benefits, availing services or receiving any payment under various schemes under the Social Security Code 2020. Aadhaar would not be made mandatory for delivery of services under various social security schemes under the purview of the ministry because Social Security Code 2020 has not been fully implemented so far. The rules under the Code are finalised by the ministry but those rules are yet to be notified.
The party also promised reservation to minorities on basis of their population after the caste census.
If you have seen Zwigato, Param Kumar's story will sound familiar. Laid off from his job as a repairman at a Gurugram-based water purifier provider, he now delivers groceries and food for a mobile-based delivery app, in Delhi. Kumar, who started making deliveries last August, told Business Standard that he is working longer hours than his older salaried job as an RO repairman, and has no paid leaves or health insurance. Kumar is part of India's estimated 7.7 million-strong force of gig workers.
'Once elected, you have to act like people's representative for the full five years or else people show you your place.'
"I sometimes think of leaving it, but the chief minister's post doesn't leave me," Ashok Gehlot famously said earlier this year, in part as a signal to the Congress top brass not to pick someone else for the job if the party wins the assembly polls.
ESIC board has relaxed norms to double payment of unemployment benefit under the scheme to 50 per cent of average wages of three months to cope with job loss between March 24 and December 31 this year in view of the COVID-19 pandemic.
