The labour ministry will soon submit a detailed plan on providing social security to 37 crore (370 million) workers in the unorganised sector to a Group of Ministers, which is examining the proposal and slated to meet next week.
Seven of the meetings will be held in late November or early December at the finance ministry, as is the norm.
The Employees' Provident Fund Organisation and the Labour Ministry are in touch with the Prime Minister's Office for the purpose, a senior official said.
Companies with 10 employees may also come under EPF Act.
The flight, carrying 216 passengers and 16 crew, landed safely, the Tata Group-owned private carrier said in a statement Tuesday evening.
The UPA government's decision to ensure a minimum pension of Rs 1,000 a month under the retirement fund body EPFO's scheme, which will immediately benefit 28 lakh pensioners, is going to be a reality soon.
The Philippines' foreign ministry confirmed in a statement that one of its nationals had died while working at a resort south of the capital Doha. It said its embassy was "working with legal authorities to ascertain more details of his passing".
The Left unions want concrete action and not just 'assurances'.
A decision on the interest rate for close to 60 million active subscribers of the Employee Provident Fund Organisation (EPFO) is likely to be taken in the next Central Board of Trustee (CBT) meeting, starting on March 25. A letter from the social security organisation regarding the convening of the 233rd CBT meeting was sent to all the board members last week, soliciting their presence in the meeting. Although the venue and the agenda haven't been drawn out yet, sources familiar with the matter say that the interest rate is unlikely to go below 8 per cent level amid a rising interest rate scenario across the globe.
The finance ministry appears to have ruled out subsidising Employees Provident Fund Organisation, despite the labour ministry struggling to bridge the Rs 927 crore (Rs 9.27 billion) deficit to pay 9.5 per cent interest to about Rs 4 crore (40 million
A part of Rs 6.5 lakh cr corpus may be used to set up Workers' Bank.
The Union cabinet approved the wage board proposal in December.
The Employees' Provident Fund Organisation's key advisory body, Finance and Investment Committee, would meet next month to take a view on parking 3 to 5 per cent of its large corpus of Rs 2.57 lakh crore (Rs 2.57 trillion)in the capital market.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
'I decided to send a bat and a ball which was smaller in size so that it shouldn't get stuck in the pipe. And with that, they had a little good time.'
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Fund managers will be given more flexibility to invest in corporate bonds.
Retirement fund body EPFO net added 14.81 lakh subscribers in August 2021, reflecting a growing trend in net payroll for the first five months of this fiscal. The provisional payroll data of Employees' Provident Fund Organisation (EPFO) released on Wednesday highlights that it added around 14.81 lakh net subscribers during the month of August 2021, a labour ministry statement said. The data reflects a growing trend in net payroll for the first five months of the current financial year, it added.
The amendment now makes it compulsory for corporate PF trusts to comply with the Employees Provident and Miscellaneous Provisions Act, 1952, and to claim exemptions under Section 17 of the same Act.
'Now, we have a minimum pension of Rs 1,000 annually.'
Central trade unions on Wednesday decided to hold a nationwide demonstration on January 20 against the government's notification of 8.5 per cent EPF rate for the current fiscal.
The meeting came after terrorists carried out a series of targeted killings in the Kashmir Valley that include non-Muslims, security personnel, an artist and local civilians.
The law firms will provide legal opinion on matters related to interpretation of various statutes, such as the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, among other things.
Taking note of the 'indigent circumstances' in which former athlete Santhi Soundarajan has been living, the Sports Ministry has sanctioned an assistance of Rs 60,500 to fund her NIS Diploma Course at the SAI Centre in Bengalore.
At present, laws on wages do not cover workers getting a monthly wage of more than Rs 18,000
Air India Chairman Rajiv Bansal has been appointed as the new aviation secretary as part of a major top-level bureaucratic reshuffle effected by the Centre on Wednesday. K Rajaraman, additional secretary in the department of economic affairs, has been appointed as secretary, department of telecommunications, a personnel ministry order said.
The next general election is more than three years away. Yet, the Centre appears to be reluctant to take any bold move that might annoy influential sections of the electorate.
Claims of a spike in poverty and inequality in India during the Covid-19 pandemic are patently false as such claims are based on uncomparable different surveys, according to a paper co-authored by eminent economist Arvind Panagariya. The paper also noted that inequality fell in the country during Covid years, both in rural and urban areas as well as nationally. Panagariya, Columbia University Professor and former vice chairman of NITI Aayog and Vishal More of Intelink Advisors, New Delhi have co-authored a detailed paper 'Poverty and Inequality in India: Before and After Covid-19'.
In order to check frequent strikes by bank employees, the government on Tuesday extended the period of public utility status of banking services and made it mandatory for workers to give six months notice before proceeding on strike.
There have been several occasions when workers have raised an industrial dispute with employers demanding compensation for being retrenched due to continued illness
Of these 8.5 million additional people employed in September, 6.5 million were in rural India, reveals Mahesh Vyas.
However, the hike in salary for government officials may take some time as the Centre had earlier this year decided to put a freeze on any hike in the DA of its employees till July, 2021, owing to the Covid-19 pandemic.
The company stated that it was taking steps for cost rationalisation across all businesses to maintain liquidity and due to a prolonged slowdown it had to take a few tough measures.
Due to the huge pile-up of visa applications, the US consular officers in the neighbouring country are now adjudicating Indian visa applications where interview requirements have been waived.
A Pakistani anti-terrorism court has sent a Chinese national to jail on 14-day judicial remand on blasphemy charges in the restive Khyber Pakhtunkhwa province after he was arrested on Monday, according to media reports on Tuesday.
More women are leaving their homes than ever before to hunt for jobs in India's overcrowded employment market, the first government study of its kind released in New Delhi showed.
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