India's urban unemployment rate declined in Q4FY23 to 6.8 per cent - the lowest in over four years -- after it stagnated at 7.2 per cent in the previous October-December quarter, reflecting improvement in the labour market, according to the Periodic Labour Force Survey (PLFS) released by the National Statistical Office (NSO) on Monday. The unemployment rate in current weekly status (CWS) terms for all ages in the March quarter was the lowest recorded in more than four years, from the time the NSO released India's first quarterly urban jobless rate for the December quarter in 2018. The jobless rate in urban areas had been on a continuous decline since the peak of 20.8 per cent in the April-June quarter of FY21.
Last month, the Employees' Provident Fund Organisation had brought down the rate of interest to 8.25 per cent for 2011-12 from 9.5 per cent provided in 2010-11, evoking sharp criticism within and outside Parliament.
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
Amidst reports of a cut in interest rate on Employees Provident Fund, Labour Minister Sis Ram Ola on Thursday said he will meet Finance Minister P Chidambaram to decide on the returns for the over 32 million subscribers for this year.
PFRDA will invite bids to appoint pension fund managers.
In the jobs created in 2022, the share of those in the age group 18-25 increased to at least a five-year high of 56 per cent. A Business Standard analysis of the monthly Employees' Provident Fund Organisation (EPFO) payroll data shows in 2018 the share of youths among the new EPFO subscribers was 50.9 per cent. The National Statistical Office is releasing the monthly EPFO payroll data since April 2018 as part of the government's effort to track formal-sector employment by using payrolls as an instrument.
While reasonable safeguards should be built in, there can't be restrictions on the individual's right to leave her/his money to whoever s/he wants, notes Harsh Roongta.
Under capital expenditure, Rs 48,614 crore has been set aside for aircraft and aero engines while Rs 24,390 crore has been allocated for the naval fleet.
"It is felt there should be an arm's-length distance between the fund manager and the custodian of securities. There should be separation between fund manager, banker and the custodian," a senior labour ministry official said.
The Union Labour Minister Sahib Singh Verma said on Friday that he would soon make public the names and other details of the major provident fund defaulters.
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.
The move comes after United States President Donald Trump accused Islamabad of giving nothing to the US but "lies and deceit" and providing "safe haven" to terrorists.
'Binary fission will happen -- startups will lead to more startups.'
'Neither are Baloch insurgents capable of breaking up Pakistan, nor has Pakistan learned any lessons from the 1971 debacle that led to the country's dismemberment.'
Six firms have qualified for managing EPFO funds.
In a first-of-its-kind initiative involving precision-flying, Indian Space Research Organisation on Thursday successfully launched the Proba-3 mission onboard a PSLV-C59 rocket, a solar experiment undertaken by the European Space Agency.
Employees Provident Fund Organisation is likely to issue permanent account numbers to employees.
At present, organised sector workers covered under social security schemes run by EPFO are exempted from contribution towards schemes.
The government on Thursday ruled out any cut in interest rates on Employees' Provident Fund this fiscal from the present 9.5 per cent, but said it would be reviewed only next fiscal based on the surplus position, Labour Minister Sahib Singh Verma
The 48-odd million employees covered by the Employees Provident Fund Organisation (EPFO) may be touched that the finance ministry is actually considering a proposal to extend the organisation a fiscal helping hand to offer a rate of interest comparable with other savings instruments.
Employees joining companies after August and availing of the government benefits under the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) will also have to link their PF accounts with Aadhaar numbers.
The successful launch of Aditya-L1 - the country's maiden mission to study the Sun - is expected to garner increased investor interest in the Indian space sector and trigger more funding for private players. Several private sector players, including Larsen & Toubro (L&T), MTAR Technologies, and Ananth Technologies, have played a pivotal role in the Indian Space Research Organisation's (Isro's) solar observatory mission. Aditya-L1 on Saturday set off on a 125-day journey on a PSLV-C57 rocket, in its attempt to study various elements relating to the nearest star from the halo orbit around Lagrange point 1 (L1) of the Sun-Earth system, which is about 1.5 million km from Earth.
The the scheme has a subscriber base of 35 million.
By region, Thiruvananthapuram leads with 247 defaulters, followed by Kolkata with 173 and Bhubaneswar with 115
The NCAA previously allowed transgender women to compete as long as they met testosterone limits on a sport-by-sport basis.
Commissions paid to mutual fund distributors (MFDs) increased by over 20 per cent for most large fund houses in 2023-24 (FY24), driven by a sharp market rally and strong inflows. The largest fund house, SBI Mutual Fund (MF), which now manages nearly Rs 10 trillion in assets, paid Rs 2,025 crore to its major distributors - 21 per cent higher than the Rs 1,675 crore payout in 2022-23 (FY23).
Gross enrolments of new subscribers with ESIC were 1.49 crore during the entire financial year 2018-19.
A total of 121 people, mostly women, died in the stampede after a satsang of Surajpal alias Bhole Baba alias Narayan Sakar Hari on July 2 in Fulrai village in Hathras' Sikandra Rao area.
The opposition Maha Vikas Aghadi on Sunday released its manifesto for the Maharashtra assembly polls, promising free cervical cancer vaccines for girls aged 9 to 16 and and two optional leave days for women employees during menstruation.
According to the EPFO estimates, there would be a surplus of Rs 151.67 crore after providing 8.65 per cent rate of interest for 2018-19 on EPF.
Retirement fund body EPFO's apex decision making body Central Board of Trustees (CBT) is likely to decide rate of interest on PF deposits for 2012-13 in its meeting scheduled on January 15.
He said that as compared to global models costing 2.5 to 3 US dollars per hour usage, India's AI model will cost less than less than Rs 100 per hour (1.16 US dollars per hour) after 40 percent government subsidy.
The Employees Provident Fund Organisation is pressing State Bank of India, one of the four retirement fund managers, to comply with a clause that provides for a penalty for keeping money idle for over a day.
ASJ Chander Jit Singh underscored he would first consider the issue of jurisdiction and whether or not to transfer the case to a special court meant to try lawmakers, considering Rashid was now an MP.
The 4.7 crore (47 million) EPFO subscribers were left guessing during the year on continuance of 9.5 per cent interest rate for this fiscal, with the retirement fund body, in an unprecedented development, deciding to refer it to the finance ministry for a final decision.
Finance Minister Arun Jaitley, who wants pension and insurance funds to invest more in equities and infrastructure.
The Confederation of All India Traders (CAIT) representing 70 million traders has written to Union Commerce Minister Piyush Goyal, drawing his attention to the alleged violations of laws and regulations by quick commerce (qcom) companies.
As of now, foreign employees applying for withdrawal of provident funds are required to open bank accounts in India.
Over five crore subscribers of the retirement fund body EPFO are likely to get 8.5 per cent return on their investment during 2012-13, higher than 8.25 per cent paid in the previous fiscal.
