Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
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.
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.
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.
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
Despite facing financial constraints, Kerala has been able to invest in welfare schemes and targeted programmes.
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".
EPFO had started allotting UAN numbers in July 2014.
It is time for India to raise its voice not just through military prowess, but through professionalism, principled voting and partnerships, asserts Deepak Mishra.
Lashkar-e-Taiba terrorist Razaullah Nizamani Khalid alias Abu Saifullah Khalid, who was the brain behind the 2006 attack on the Rashtriya Swayamsevak Sangh headquarters, was killed by three unidentified gunmen in Sindh province of Pakistan on Sunday, officials in New Delhi said.
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.
'We give them problems so that they can come up with solutions using the technological skills they have learnt.' 'In fact, changemaking and problem solving are interchangeable, in a way.'
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.
Afghanistan's exiled women cricketers will be the first beneficiaries of a new refugee fund started by the Marylebone Cricket Club, the MCC said on Friday.
On his 200th birth anniversary, Utkarsh Mishra traces the life, thought, and legacy of Dadabhai Naoroji, the Grand Old Man of India.
January 2019 saw the maximum number of employment being generated since the data from September 2017, reports Indivjal Dhasmana.
Two simple steps can solve your problem
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 EPFO has about 5 crore (50 million) subscribers and the decision will have a bearing on their retirement fund.
The EPFO on Friday deferred a decision on interest rate on provident fund deposits for 2010-11 following pressure from trade unions that want rates to be raised to 9.5-10.5 per cent from 8.5 per cent.
'The larger and more opaque this shadow economy becomes, especially online, the greater the risk to India's national security.'
An expert group has called for carving out two separate accounts -- PF and annuity -- in the employee provident fund scheme to meet the challenge of fund depletion in the pension scheme and introducing greater transparency for subscribers.
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.
"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.
Turkiye and Azerbaijan backed Pakistan and condemned India's recent strikes on terror camps in that country and Pakistan-occupied Kashmir under Operation Sindoor.
An employee should always keep his bank account active inorder to claim PPF after he joins a new office.
Over five crore provident fund subscribers governed by the EPFO will get 8.75 per cent interest on their deposits for the current fiscal.
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.
It wants PF to be calculated on all other allowances made by employer under sundry heads.
'Self-declaration from the customer in case of no change in KYC information or change only in the address details may be obtained.'
Interest on employee contributions to provident fund over Rs 2.5 lakh per annum would be taxed from April 1, 2021, a move aimed at taxing high-value depositors in the EPF. Finance Minister Nirmala Sitharaman said the Employee Provident Fund (EPF) is aimed at welfare of workers and any person earning less than Rs 2 lakh per month will not be affected by the Budget proposal. Expenditure secretary T V Somanathan said the number of people who actually contribute more than Rs 2.5 lakh is less than 1 per cent of the total number of contributors in the EPF.
