Recognising job creation for the youth as the foremost challenge for the economy, Finance Minister Nirmala Sitharaman on Tuesday announced a comprehensive Prime Minister's package to facilitate the employment and skilling of 41 million youth with a central outlay of Rs 2 trillion over the next five-year period. The package will consist of five schemes and initiatives - three focused on jobs and two on skilling.
Turkiye and Azerbaijan backed Pakistan and condemned India's recent strikes on terror camps in that country and Pakistan-occupied Kashmir under Operation Sindoor.
A sub-committee of the country's biggest provident fund, EPFO, is believed to have recommended slashing of interest rates to 8% for its 3 crore subscribers, even as some trade unions pitched for hiking the rate to 12%.
Retirement fund body EPFO has extended the deadline for filing applications to opt for a higher pension till July 11. This is the second extension of the deadline for applying for a higher pension. Earlier, it was extended from May 3, 2023, to June 26, 2023.
Fresh formal job creation cooled for the second consecutive month to decline to a six-month low in September, signalling a downturn in the labour markets this financial year. The number of new monthly subscribers under the Employees' Provident Fund (EPF) declined by 6.45 per cent to 891,583 in September from 953,092 in August, shows the latest payroll data released by the Employees' Provident Fund Organisation (EPFO). Besides, the net payroll additions -- calculated by taking into account the number of new subscribers, the number of exits, and the return of old subscribers -- increased by 14.9 per cent to 1.72 million in September from 1.49 million in August.
The move can help mop up about Rs 1.2 lakh every day for the purpose.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
From using lavender in traditional Dogri embroidery to making essential oils, beauty products and food syrups infused with this flowering plant, Bhaderwah, once known for its maize fields, is embracing lavender to bring about an economic transformation to their small town.
"Permitting students to discontinue studies is akin to asking them not to study," Stalin said, addressing an event organised by the Parents-Teachers Association in Cuddalore.
Anmol Singh Jaggi and Puneet Singh Jaggi, once hailed as rising stars in India's clean energy sector, are now facing serious regulatory action.
The Bharat Mata controversy in Kerala shows how political and symbolic fights between the state and the Centre have taken attention away from education, throwing the state's oldest university into confusion and disorder, observes Shyam G Menon.
A formal sector worker can contribute towards pension scheme till the age of 58.
Companies have been approached to set up incubation centres that will offer financial and non-financial support to manufacturing startups at various levels.
FCRA registration will also be cancelled if any NGO is not utilising foreign funding as per the aims and objectives of the NGO or if it has not uploaded the annual returns, the ministry said.
The Supreme Court on Friday upheld the validity of the Employees Pension (Amendment) Scheme of 2014 but quashed the threshold limit of Rs 15,000 monthly salary for joining the pension fund. The 2014 amendment had capped the maximum pensionable salary (basic pay plus dearness allowance) at Rs 15,000 per month. Prior to the amendment, the maximum pensionable salary was capped at Rs 6,500 a month.
The taxpayer-funded licence fee supported UK media corporation said it has contacted the social media giant over the designation on its @BBC account to resolve the issue "as soon as possible".
Once in place, the new system is expected to benefit around 60 million workers covered under EPFO.
Fresh formal job creation declined sequentially for a third straight month in February to fall to a 21-month low, signaling pressure in the employment market. These are the findings from the latest payroll data released by the Employee Provident Fund Organisation (EPFO) on Thursday. The number of new monthly subscribers under the Employees' Provident Fund (EPF) declined 10 per cent sequentially to 738,052 in February from 819,659 in January.
The administration has introduced 'Maidan Cup' in collaboration with the Mann Deshi Foundation and Sachin Tendulkar Foundation, under which 50 playgrounds will be developed in Dantewada to boost sports culture and talent.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
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.
Tahawwur Hussain Rana, a Pakistan-born Canadian national and close associate of David Coleman Headley, could be extradited to India in connection with the 26/11 Mumbai terror attacks. Rana's travel history in parts of north and south India before the attacks in 2008 is expected to provide crucial leads for the investigation. His extradition would mark the third person to be tried in India for the attacks, after Ajmal Kasab and Zabiuddin Ansari alias Abu Jundal.
It is not just about archaic limits, there are a number holes which, if plugged, will come to the aid of taxpayers, rues Neha Pandey Deoras
Employees' Pension Scheme has been asked to fold up and hand over subscribers to National Pension System
'He has been a promoter and supporter of these Games during his first term. These Games were allocated to Los Angeles during the first term. He loves sport.'
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.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
EPFO had started allotting UAN numbers in July 2014.
January 2019 saw the maximum number of employment being generated since the data from September 2017, reports Indivjal Dhasmana.
In a continued push to spiritual tourism, there will be a focus on destinations related to the life and times of Lord Buddha.
Two simple steps can solve your problem
'Both international cooperation and self-reliance will now acquire new purpose.'
Companies with 10 employees may also come under EPF Act.
Retirement fund body EPFO may lower the interest rate on deposits to 8.6 per cent for over 4.7 crore (47 million) subscribers for 2011-12 to match it with the rate of public provident fund (PPF) scheme.
Last week, the Ministry of Labour and Employment suspended the second in command in EPFO's Hyderabad office.
The 8.1 per cent interest rate was recommended by the Central Board of Trustees after its meeting in Guwahati under the chairmanship of Union Labour and Employment Minister Bhupendra Yadav, a labour ministry press statement said.
