The decision to drop the proposal was taken last month during a meeting that Finance Minister Arun Jaitley held with labour ministry officials.
As per the EPFO income projections, retaining 8.8 per cent rate of interest for the current fiscal would have left a deficit of Rs 383 crore. Hence, it was lowered to 8.65 per cent
'They were very vocal on the defence of the Constitution, reservation, SC/ST Act and democratic rights.'
Workers' attitude is changing and they want to work more and demand more wages. They want more productivity.
The government has taken "serious note" of complaints against an Indian company, involved in alleged mistreatment of 77 Indian labourers in Sri Lanka, and directed its mission in Colombo to make immediate arrangements for their return.
While Narendra Modi spent fewer days abroad than his predecessor -- 275 days versus Dr Singh's 306 - he has travelled more widely than any other Indian PM.
It is not just about archaic limits, there are a number holes which, if plugged, will come to the aid of taxpayers, rues Neha Pandey Deoras
All institutions registered with the United Arab Emirates's labour ministry will have to pay their workers' wages and salaries from September this year through a new system that seeks to protect the rights of workers in the country.
Contract workers are paid much less than regular workers. This year's Economic Survey estimates wages are on an average 20 times higher in the formal sector than in the informal sector. Arindam Majumder reports.
There are differences between the ministries of labour and finance on the issue.
The divestment department has proposed that public sector units involved in mining ores alone should qualify for 'natural asset' status while imposing additional norms concering employment of labour.\n\n\n\n
Apart from the human body, human food will bear direct repercussions. From staples such as wheat, to coffee, dairy, and even the great Hilsa face the threat of reduced supply due to the extreme heat.
After taking benefit of the scheme, jobs increased by around 11 mn in establishments that took loans.
India's urban unemployment rate declined in Q4FY23 to 6.8 per cent - the lowest in over four years -- after it stagnated at 7.2 per cent in the previous October-December quarter, reflecting improvement in the labour market, according to the Periodic Labour Force Survey (PLFS) released by the National Statistical Office (NSO) on Monday. The unemployment rate in current weekly status (CWS) terms for all ages in the March quarter was the lowest recorded in more than four years, from the time the NSO released India's first quarterly urban jobless rate for the December quarter in 2018. The jobless rate in urban areas had been on a continuous decline since the peak of 20.8 per cent in the April-June quarter of FY21.
The portal, which has been tentatively named by the labour and employment ministry as the National Portal for COVID-19 Affected Unorganised Migrant Workers, will gather the details of all the unorganised sector workers who are stranded in relief camps, residential or industrial clusters.
Even as the labour ministry gave an in-principle approval to the civil aviation ministry's proposal to classify pilots as executives instead of workmen, the pilots' unions said they would respond strongly to the move.
The government is targeting export of goods and services worth $2 trillion by 2030.
According to the EPFO estimates, there would be a surplus of Rs 151.67 crore after providing 8.65 per cent rate of interest for 2018-19 on EPF.
The EPFO had decided that 8.15 per cent interest from its debt income would be credited immediately and the remaining 0.35 per cent capital gains from the equity sale would be given later, subject to its redemption.
The crucial meeting of Employees Provident Fund Organisation board began in New Delhi on Wednesday to decide whether to continue with the 9.5 per cent interest rate for its 3 crore (30 million) subscribers.
The government wants to reduce the rate of contribution - part of the employee's share - for a class of workers depending upon age, income or gender, without changing the contribution from the employer's share.
'Pay Rs. 30 and insure free treatment up to Rs. 30,000.' That is the latest slogan of the Manmohan Singh government, which has provided such a unique insurance cover to those below the poverty line (BPL) for the first time in the history of the country.
Retirement fund body EPFO has retained 8.5 per cent interest rate on employees' provident fund (EPF) for 2019-20 for its over six crore members as decided earlier, and also began crediting the same into their accounts on Thursday. A large number of the members of the Employees' Provident Fund Organisation (EPFO) would be able to see their updated EPF accounts with credit of 8.5 per cent interest for 2019-20, from Friday, a senior official told PTI. The official further said the labour ministry has already sent the direction to credit the 8.5 per cent interest on EPF for 2019-20 to the EPFO, and the body has already started crediting interest into the members' account for the last financial year.
A day after being sworn-in, the new ministers took charge of their portfolios. Here's a look at the various new ministers on their first day at work.
The Brookings Institution, a think tank associated closely with the US administration, recently expressed keen interest in it.
Nikkei 225 index hit the 40,000 mark for the first time ever on Monday, continuing its bull-run that saw the index reclaim its 1989 peak of 34,000 levels in February. as global investors latched on to Japan's biggest companies on improving shareholder returns, the weaker yen and booming corporate profits. Analysts remain bullish on Japan, mostly aided by gains in technology shares. Adoption of artificial intelligence (AI), according to a note by Morgan Stanley, is likely to benefit Japanese companies, which is almost at par with the US-based companies.
ESI subscribers to get Covid unemployment allowance within 15 days of claim. Payment will be made into bank account of the insured and Aadhaar will be used for identification.
Almost 25 per cent central government posts were vacant as of March 2022, compared to 9.4 per cent in March 2002.
In an order, the Home Ministry nullified a Labour Ministry circular which allows one per cent foreigners among the total work force in any project with a minimum of five and maximum of 20 people.
There were quite a few industrial lockouts that cost India a dear in 2014.
The organisation can invest in bonds of private companies with dual 'AAA' rating, say new norms.
Reaching out to the working class, especially in the unorganised sector, the government rolled out several measures in 2011, raising minimum daily wages, enlarging health insurance coverage and also notifying Majithia Wage Board recommendations for newspaper and news agency employees.
Twenty garment factories have closed down in the last four years, leaving only eight operational
