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.
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 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".
There have been several occasions when workers have raised an industrial dispute with employers demanding compensation for being retrenched due to continued illness
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 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.
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.
Around 50 to 55 lakh job seekers, on an average, annually register with the employment exchanges for over two lakh notified vacancies.
The flight, carrying 216 passengers and 16 crew, landed safely, the Tata Group-owned private carrier said in a statement Tuesday evening.
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.
Union minister for coal and mines Mamata Banerjee on Monday announced 15 per cent interim relief for coal miners and employees and said no collieries would be closed and no retrenchment would be made.
About a million railway employees participated in the strike ballot of NFIR. In December, 800,000 employees participated in the strike ballot conducted by another leading union, the All India Railwaymen Federation, with 96 per cent voting in favour of a strike.
To provide better working conditions and social security to workers in the unorganised sector, an empowered group of ministers on Friday cleared a draft of the unorganised sector workers bill that provides for pension and insurance to the workforce.
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.
Over 10 lakh workers who quit or lost jobs so far this fiscal got a major relief on Monday with the government taking a decision to pay 8.5 per cent interest on employees provident fund.
For Indian equities, this will a good stabilising hedge against the speculative investor breed, which is largely dominant in Indian equity markets.
The Finance Ministry has been pitching for EPFO funds to be invested in the equity markets to maximise their yields.
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.
While some trade union leaders have welcomed the move, industry has opposed it, fearing an increase in its wage bill
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.
Despite the labour ministry's claims that it is vigourosly chasing the employees provident fund defaulters, the money that employers owed to the fund mounted to Rs 1,758 crore till July, but EPFO might be able to realise only Rs 571 crore.
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.
The 15% invested every month in equity would be allotted to subscribers in the form of units.
Of these 8.5 million additional people employed in September, 6.5 million were in rural India, reveals Mahesh Vyas.
For Swarup, the job would not be just challenging but also tricky, given the negativity attached to the sector.
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.
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'.
'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.'
If the government is able to deliver the promised projects, the large number of youth will be taken off the streets and that is not acceptable to the Pakistan army nor the terrorists hiding in Pakistan, notes Brigadier Narender Kumar (retd).
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
Sule, citing Railway Ministry documents, said the largest number of Shramik Special trains -- 1033 -- were operated from Gujarat, followed by Maharashtra (817) and Punjab (429).
A government panel examined the records of employees surveyed by Labour Bureau's quarterly enterprises surveys and mapped it with the EPFO's subscribers and found "unexplained variations" between the two.
According to the law, the contribution "should not be more than 5 per cent of the amount paid to gig workers. The government is likely to start seeking contribution from gig companies towards the fund from April 1, 2021.
Employers' refusal to recognise TUs has caused industrial tiffs.
Tamil nadu Chief Minister and All India Dravida Munetra Kazhagam supremo J Jayalalithaa on Monday sacked three ministers and six district heads in the backdrop of her party's defeat in three Lok Sabha seats in Tamil Nadu and Puducherry.
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.
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