The organisation can invest in bonds of private companies with dual 'AAA' rating, say new norms.
There were quite a few industrial lockouts that cost India a dear in 2014.
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.
Twenty garment factories have closed down in the last four years, leaving only eight operational
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.
In an effort to instill the spirit of a service provider among the rank and file of the Employees Provident Fund Organisation, a new business model for its human resources is being examined under a re-engineering exercise.
The Labour Ministry has relaxed investment norms for retirement fund manager EPFO, but refrained from allowing the body to invest a part of its huge corpus of around Rs 5 lakh crore in equity markets.
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Almost 25 per cent central government posts were vacant as of March 2022, compared to 9.4 per cent in March 2002.
Close on the heels of announcing sops for special economic zones, the government on Friday assured exporters that it will take more steps to enable them to compete globally.
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.
"It is felt there should be an arm's-length distance between the fund manager and the custodian of securities. There should be separation between fund manager, banker and the custodian," a senior labour ministry official said.
The state government was informed about the Rs 500 crore bill by the Union home ministry through a letter dated February 6.
The task force has favoured that Rashtriya Swasthya Bima Yojana should cover domestic workers, a Labour Ministry official said on Monday.
The department for promotion of industry and internal trade (DPIIT) has suggested to the home ministry to allow limited activity in certain sectors such as heavy electricals and telecom equipment with reasonable safeguards. In a letter to Home Secretary Ajay Kumar Bhalla, the department said that these activities are essential to improve the economic situation and provide liquidity in the hands of the people.
Those who get less than Rs 1,000 a month include 22 lakh (2.2 million) member pensioners and 5 lakh widows as on March 31, 2013.
This was decided at a four-hour meeting of the Central Board of Trustees of EPF chaired by Labour Minister K Chandrashekhar Rao.
The UAE government has revoked the ban that people who left their jobs or cancelled their resident visas faced.
Accusing the labour ministry of "playing hide and seek" with their demands, the bank unions on Tuesday threatened to go on an indefinite strike.\n\n\n\n
The Centre has taken a major step towards increasing efficiency in decision-making by empowering joint secretaries to report to secretaries directly, officials said on Wednesday.
The Minimum Wages Act will be amended to enact a new centrally set minimum, in the wake of the National Advisory Council's suggestion on asymmetries in this regard between states on payments for work done on schemes under the National Rural Employment Guarantee Act.
Some unions have opposed EPFO investing in share markets.
The committee has termed the Employee Provident Fund Organisation's data on number of pensioners subscribed to the Employee's Pension Scheme, 1995 as 'inflated and imaginary'. Top officials of the labour ministry and the provident fund organisation were unable to explain how calculations for pensionary liability were arrived at without knowing the number of pensioners in the country.
In a placatory move, the labour ministry also said it was contemplating permitting withdrawal of all accumulations by Employees' Provident Fund Organisation's subscribers on grounds like purchase of house, serious illness, marriage and professional education of children.
Along with Modi, senior BJP leaders including Rajnath Singh, Amit Shah, Nitin Gadkari, Nirmala Sitharaman and S Jaishankar, all ministers in Modi 2.0 Cabinet, took oath as cabinet ministers at the Rashtrapati Bhavan. In all, 71 ministers were sworn-in along with Modi, taking the strength of the Union council to 72.
The Centre received 5.59 lakh public grievances against various government departments in the first half of this year, with the Department of Financial Services (DFS) getting most of such complaints, according to an official report.
Ussue will be raised at the meeting of the Central Board of Trustees of the Employees Provident Fund Organisation on Tuesday.
The federal probe agency obtained these receipts from two Ranchi-based dealers and attached those to its charge sheet filed against the 48-year-old Jharkhand Mukti Morcha (JMM) leader and four others last month.
At present, someone short of the retirement age can completely withdraw the PF money.
"The new food supply pipeline has also made it easier to supply better food in larger quantities to them, which is a good thing. Otherwise the situation remains the same," said Negi, who spoke to his brother.
States may set it higher, not lower; planned link to cost of living.
Under the New Code on Wages Bill 2019, employers will be required to give the minimum wages, notified by either the state or the Centre, to the unorganised sector, too.
Labour Ministry has notified new investment pattern for EPFO.
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.
Sacked Rajasthan minister Rajendra Gudha had claimed that the red diary which he had secured from the residence of Congress leader Dharmendra Rathore during an income tax raid in July 2020 on the directions of the chief minister had details of Gehlot's financial transactions.
The remaining 0.35 per cent will be credited in December this year, if the EPFO is able to redeem its equity investments.
