The government has approved 8.5 per cent rate of interest on employees' provident fund for the 2020-21 fiscal, a source said. Just ahead of Diwali, this is a good news for over five crore subscribers of the Employees Provident Fund Organisation (EPFO). The 8.5 per cent rate of interest on provident fund deposits for the last financial year was decided by the EPFO's apex decision making body Central Board of Trustees (CBT) headed by Labour Minister in March this year.
At present this facility is available to workers of (un-exempted) firms which do not have their PF trusts and manage their employees' accounts with their respective regional fund commissioners of the EPFO. It was launched in October last year.
Agnipath offers jobs to youngsters between 17.5 years and 23 years of age. The unemployment rate in this age group has risen from around 23% in 2017 to over 50% since 2020. Every second person who is looking for employment in this age group is unemployed, explains Mahesh Vyas.
Releasing the survey report after taking into account the expert committee recommendations, Statistics Secretary Pravin Srivastava told reporter, "It is a new design and a new matrix. It would be unfair to compare it with the past. This 45- year high is your interpretation. I don't want to claim that it is 45-year low or high."
Employment in nine selected sectors, including construction, manufacturing and IT/BPO, was at 3.08 crore in the April-June quarter of 2021-22, reflecting a growth of 29 per cent compared to 2.37 crore reported in the Economic Census of 2013-14, according to a survey. Labour and Employment Minister Bhupender Yadav on Monday released the report of Quarterly Employment Survey (QES) part (April to June 2021), of the All-India Quarterly Establishment-based Employment Survey (AQEES) prepared by the Labour Bureau. Announcing the results, Yadav said the estimated total employment in the nine selected sectors from the first round of QES is 3 crore and 8 lakh approximately against a total of 2 crore and 37 lakhs in these sectors taken collectively, as reported in the sixth Economic Census (EC 2013-14) reflecting a growth rate of 29 per cent.
Gautam Adani's alleged proximity to Narendra Modi may dent the latter's self-styled image of incorruptibility, points out Kanika Datta.
'The rate of interest from the EPF is still attractive compared to the rates on fixed deposits, National Savings Scheme, Public Provident Fund...'
This will help employers keep a track of the diseases workers could suffer from while doing their jobs.
At present, the EPFO is mandated to invest 20-45 per cent of its incremental funds - of around Rs 1.5 trillion - in debt-related instruments.
On Monday, the ministry had put the recovery rate from COVID-19 at 22.17 per cent.
Developers grappling with labour shortage and getting construction material to sites could be among a list of problems.
Sober by temperament and nature, Kharge has never landed in any major political trouble or controversy.
States were directed to ensure there is no movement of people across cities or on highways. Only movement of goods should be allowed.
The members of these trusts enjoy tax and other benefits at par with EPFO subscribers.
Talking to PTI Amarjeet Kaur, General Secretary of All India Trade Union Congress (AITUC), said, "The two-day nationwide strike by the joint forum of central trade unions has begun this morning". About the impact of the agitation, she said that the entire coal belt (mining area) is affected in Jharkhand, Chhattisgarh and Madhya Pradesh. She also said that there is a good response in industrial areas of Assam, Haryana, Delhi, West Bengal, Telangana, Kerala, Tamil Nadu, Karnataka, Bihar, Punjab, Rajasthan, Goa, Andhra Pradesh and Odisha. The AITUC official noted that the banks and insurance sectors are affected all over India, while steel and oil sectors are also seeing partial impact due to the strike. Kaur said that she has got preliminary reports that markets are closed in Odisha.
Once approved by the finance ministry, the rate hike will benefit six crore EPFO subscribers.
Rationalisation of income tax slabs, infrastructure status for digital services and incentives to hydrogen storage as well as fuel cell development were some of the suggestions made by various stakeholders at the pre-Budget consultation meeting convened by Finance Minister Nirmala Sitharaman. The customary pre-Budget consultation meetings were held with the finance minister virtually between December 15 and December 22, as per the finance ministry statement. More than 120 invitees representing seven stakeholder groups participated in eight meetings, scheduled during this period, it said.
Over 1.4 lakh jobs are estimated to be created between March 2019 and March 2021 in various central government departments, according to the Union Budget presented on Monday. The strength of government establishments was 32,71,113 as on March 1, 2019, which is estimated to increase to 34,14,226 by the first day of next month - an increase of 1,43,113, it said. The budget documents have given a break-up of the jobs estimated to be created in central government departments between 2019 and March 2021.
If elected, he will be the second All India Congress Committee president from Karnataka after S Nijalingappa, and also a Dalit leader to hold the post after Jagjivan Ram.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
The intensity of power crisis this season has hit a new high with average coal stock dipping to less than eight days. The first of a pan-Indian series, based on a ground report, shows how the Manesar industrial hub is coping with the challenge. As the scorching heat wave and the lengthy power cuts intensify in Haryana, the usually bustling labour chowk of the Industrial Model Township (IMT) of Manesar wears a deserted look.
The new mantra was to align Apple's ambition with the government's, focusing on Modi's favourite themes of Make in India, employment generation and India as a high-tech export hub.
Sidhu Humanabade was passing by when he saw smoke billowing out from the upper floors of the ESIC Kamgar Hospital in Andheri. He left his bike and asked the firemen if he could join them in the rescue operation.
Being made a member of the Cabinet Committee on Political Affairs makes her an important player in BJP politics, observes Rashme Sehgal.
The fresh companies were moved into the valley as part of the strategy of 'enhancing security and visibility' of the forces on the ground following the killings, they said.
Health Minister Mansukh Mandaviya, Civil Aviation Minister Jyotiraditya Scindia, Railway Minister Ashwini Vaishnaw and other ministers took charge of their respective offices on Thursday, a day after taking oath at a ceremony held in the Darbar Hall of the Rashtrapati Bhavan.
If a risk taker and young, NPS would suit her/him. Otherwise, s/he should go for EPF.
Ahead of the Union Cabinet expansion on Wednesday, several Union Ministers, including Health Minister Dr Harsh Vardhan, Education Minister Dr Ramesh Pokhriyal Nishank and Labour Minister Santosh Gangwar resigned from their posts.
As voting begins in Bihar in the first phase of assembly elections on Wednesday, the fate of political leaders depends on how the electorate perceives they can solve ground-level issues from reverse migration to tackling the COVID-19 pandemic.
There is talk of a fresh approach to a new labour code as well as reforming land acquisition laws in such a way as to be politically.
In January, the Employees' Provident Fund Organisation had asked the field staff to ensure the collection of data in respect of member joining on or after March 1, on a monthly basis and in respect of existing members by June 30, 2013.
Yashvardhan Kumar Sinha was appointed as the chief information commissioner on Saturday, according to a Rashtrapati Bhavan statement.
Experts say, these leave many matters to the discretionary powers of bureaucrats, rather than providing them explicitly in the rules.
Chief Minister Mamata Banerjee sought Prime Minister Narendra Modi's intervention on Wednesday in the alleged "whimsical" functioning of the railways in sending Shramik Special trains to West Bengal and urged the Bharatiya Janata Party-led Centre not to pursue politics when the state is battling a dual crisis due to the COVID-19 pandemic and trail of destruction left behind by Cyclone Amphan.
In a communication to chief secretaries of all states and union territories, Union home Secretary Ajay Bhalla said the ministry of home affairs, under the Disaster Management Act, has allowed manufacture or production, transport and other related supply-chain activities in respect of essential goods like foodstuff, medicines and medical equipment during the 21-day lockdown.
They said that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this.
Portfolios were on Tuesday allocated in the new Bihar cabinet headed by Chief Minister Nitish Kumar who, predictably, retained the all-important home department which helps him keep direct control on the state police.
India maintains that the Kashmir issue is a bilateral one and no third party has any role in it.
