The chief minister and his wife Kamlesh Thakur presented a cheque of Rs 51 lakh to chief secretary Prabodh Saxena at their official residence in Shimla.
When AS-15 became operative in 2006, the initial estimate for additional pension provisioning was estimated at Rs 6,000 crore. However, the latest wage revision may bring in an additional 275,000 bank employees who opted for PF. Banks may also provide for the pension liabilities of 65,000 employees who have retired but have been seeking resort to the defined pension scheme since 1996. This will require additional provisioning of Rs 6,000 crore.
RediffGURU Mihir Tanna broadly lists the ITRs to be filled by individuals having income from salary, house property, capital gain, business and other sources.
"The demand stands already examined in detail and was not found acceptable due to administrative, financial and legal reasons," minister of state for defence M Pallam Raju said in a written reply to a query in the Rajya Sabha. The minister, however, added that the government was examining if it can make improvements in pension given to pensioners.
The government on Tuesday said it would carefully consider proposals of a parliamentary standing committee to allow FDI in pension sector on the pattern of the insurance sector.
Here are the main factors that impact the November 23 elections in the state.
Have the markets already played out their dynamics before the economy has even properly taken off? Are we now destined for a period of mediocre returns despite a strong economy? asks Akash Prakash.
Former NSG commando Surender Singh, who risked his life while fighting the terrorists during the 26/11 attacks, finally exposes his predicament after not receiving pension for the last 13 months. Priyanka reports from New Delhi.
After a four-year wait, the Pension Fund Regulatory and Development Authority is ready to kick off the process to set up private pension funds so that salaried and non-salaried people can start investing April onwards.
Hailed as a revolutionary offering, the NPs has found few takers even after a year of its launch.
The rising goods and services tax (GST) and personal income-tax collections may bolster the Narendra Modi government's ability to announce new schemes or enhance existing ones.
The minimum capital required for setting up a pension fund is likely to be fixed at Rs 25 crore (Rs 250 million), one fourth of what is prescribed for the insurers.
Finance Minister Ishaq Dar, who presented the budget in the National Assembly, the lower house of parliament, said the government will target a growth rate of 3.5 per cent in the coming fiscal year.
The state's joblessness is three times higher than the national average of 7.8 per cent.
Priyanka was addressing a rally to canvass for the Congress candidate in the Datia assembly seat of Madhya Pradesh, which will go to polls on November 17.
The government has reduced the stipulated period for settlement of various claims like PF withdrawal, pension and insurance by the retirement fund body EPFO to 20 days from the existing 30 days.
Proponents of universal pension coverage argue that India is now a rich country with a large population of poor people. So resources are available but not adequately channeled to those who need them.
In a liberal proposal, the Sixth Central Pay Commission has recommended full pension benefit to government employees after 20 years of service, as against the existing 33 years. The hike in gratuity limit to Rs 10 lakh, exclusion of the earned leave encashed while in service from the overall limit, clubbing of earned leave and half-day pay leave for encashment and higher pension to octogenarians are the other liberal steps suggested by the commission.
The first of the six pension funds to be set up in the country is to be launched on October 2, well in time to operationalise the new pension scheme for government employees joining after October.
rediffGURU Sunil Lala answers your MF-related queries.
Finance Minister Pranab Mukherjee on Monday held a meeting with senior BJP leaders L K Advani, Sushma Swaraj and Yashwant Sinha to discuss these two legislations.
Indian defence veterans, dismayed and appalled by the mistreatment given to them by the bureaucrats of the defence and finance ministries over issues of pension, have now written to the prime minister as a last resort and have threatened to intensify their four-year-old agitation
The investment limit for foreign entities in Indian stock exchanges will be enhanced from 5 per cent to 15 per cent on par with domestic institutions.
The government had earlier stipulated documents such as PAN card, matriculation certificate, passport, CGHS card and driving licence as proof of age for old pensioners.
Seven public sector entities including the Life Insurance Corporation and State Bank of India on Friday submitted expressions of interest to the Pension Fund Regulatory and Development Authority
The Union Cabinet is likely to take a call on Wednesday on the long-pending demand of high court judges of one rank one pension.
The finance ministry on Wednesday ruled out more than 26 per cent foreign direct investment in pension sector and said fund managers would be selected through a competitive bidding process.
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