Billionaire and Mahindra Group chairman Anand Mahindra along with top Silicon Valley investors Naval Ravikant and Balaji Srinivasan are backing space tech start-up Agnikul as part of a new funding round. Chennai-based Agnikul said, on Thursday, that it has raised $11 million in Series A funding round led by Mayfield India. It is the largest funding round for a private Indian space technology company in the country. Existing investors pi Ventures, Speciale Invest and Artha Venture Fund also invested in this round.
'Everyone is unhappy with the lieutenant governor's administration, which is ignorant, high-handed, and inaccessible.'
It is not advisable to touch retirement corpus if property is being purchased for investment.
The senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
Terrorism is the biggest curse for the society, he said, adding that if there is any country which bore the maximum brunt of terrorism, it is India.
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Retirement fund body EPFO on Monday is likely to retain 8.5 per cent interest on PF deposits for its over 5 crore subscribers in 2013-14.
The total size of pension market in India is estimated to have stood at over Rs 1.5 lakh crore (Rs 1.5 trillion) in 2010, while it is expected to rise to over Rs 2 lakh crore (Rs 2 trillion) by 2015 and further to close to Rs 3 lakh crore (Rs 3 trillion) in 2020 and more than Rs 4 lakh crore (Rs 4 trillion) by 2025.
Tomar had discussed the two proposals with trade unions on June 24 and assured that the government will take at least two weeks to take a decision.
'I was laughing and crying at the same time. Right now, just extremely happy that she will be out and amongst us soon.'
E-commerce giant Amazon on Thursday announced a $250 million (about Rs 1,873 crore) fund that will focus on digitising small and medium businesses, and driving innovation in the areas of agri-tech and health-tech in India. "Small and medium sized businesses are often the engine and the lifeblood of economies and I think it's true in India as well. "And we are very passionate about trying to enable acceleration of SMBs in fuelling innovation and the economy in India," Amazon Web Services CEO Andrew Jassy said.
Tata Trusts is one of India's oldest, non-sectarian philanthropic organisations involved in areas of community development.
The members of these trusts enjoy tax and other benefits at par with EPFO subscribers.
While some trade union leaders have welcomed the move, industry has opposed it, fearing an increase in its wage bill
The generation of quality jobs and skill development should be the focal point, cutting across ministries and departments, asserts Nivedita Mookerji.
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
Holding that trainees are not employees, the Supreme Court has ruled that they are not entitled to provident fund.\n\n
Edtech major Byju's is growing slowly but sustainably and is close to achieving profitability at the group level, the company's CEO Byju Raveendran said on Thursday. The company organised a town hall with Raveendran to allay apprehensions about the uncertainty around the company's growth and its future. According to sources, who attended the town hall, Raveendran said that issues with $1.2 billion Term Loan B lenders are being resolved through discussion and hopeful of a positive outcome in the next few weeks without the court's intervention.
Wealth management seems to have moved from family office solutions to CXO office solutions.
7 million jobs will be created in formal sector in FY18
The EPFO pays rate of return to its subscribers on the basis of returns it generates from its investments.
Adani Enterprises Ltd, the flagship incubator of billionaire Gautam Adani's conglomerate, on Thursday reported a 37 per cent drop in March quarter net profit, bogged down by one-time past airport dues and commercial mining losses. Its consolidated net profit of Rs 450.58 crore in January-March - the fourth quarter of fiscal year 2023-24 - compares to Rs 722.48 crore net profit in the same period last year and Rs 1,888.45 crore earning in the preceding quarter, according to a stock exchange filing by the company.
Those who get less than Rs 1,000 a month include 22 lakh (2.2 million) member pensioners and 5 lakh widows as on March 31, 2013.
Following suggestion from Minister for Roads Nitin Gadkari, Centre seeks ideas from IRDAI and General Insurance Council on feasibility of providing insurance cover for retrenchment.
Concerned by the continuous downward revision in the monthly net enrolment numbers, the EPFO has begun counting people quitting their previous jobs and joining a new one as an addition to the net payroll. According to experts these people cannot be counted as those who got a new job.
Around 20 lakh pensioners to benefit from govt new pension scheme.
Some of the violations that will lead to community service include failure to pay social security contribution of workers, maintain records, furnish information to inspectors, pay gratuity to workers, provide crche facility and medical pay, and retrenching women workers during maternity leave.
EPFO has recently issued Universal PF Account Numbers for 4.17 crore contributing members.
The new form does not require attestation by employer and can be submitted directly to the concerned EPFO offices
Preparations are in the final stages by the Chennai-headquartered space-tech startup Agnikul Cosmos for the maiden launch of India's first-ever private launchpad and the second rocket launch by a private sector player.
The fund generated a lot of interest immediately after Prime Minister Narendra Modi announced its formation of the fund in the last week of March after the COVID-19 outbreak and appealed for donations, prompting several private firms, government bodies and individuals, including celebrities, to donate money.
Taking the first step towards launch of online PF transfer claim facilities, retirement fund body EPFO has unveiled the revised transfer claim form for the purpose.
Experts say it's better to transfer the amount to one's current EPFO account than opting for a withdrawal.
The central government has agreed in-principle to Air India employees' main demands. It fears an industrial dissension now could impede the process of privatisation. It has agreed to bear the cost of liquidation loss on account of transfer to the Employees' Provident Fund Organisation (EPFO) from company-owned trusts, inclusion of employees in the central government health scheme (CGHS), and encashment of leaves. The template of the Air India process will be followed for other public sector undertakings up for privatisation at a later date.
Unique Identification Authority of India said the alleged data breach took place on a website that does not belong to it.
During December 2018, maximum number of 217,000 jobs were created in the 18-21 years age group followed by 203,000 in the 22-25 years age bracket.
Trustees of Retirement fund body EPFO will decide tomorrow on amending the scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit about its 28 lakh pensioners.
Social stock exchange (SSE) saw its first listing on Wednesday, with SGBS Unnati Foundation becoming the first entity to take this route to avail financing. The foundation - engaged in vocational training of youth - raised Rs 1.8 crore from four investors. These include brokerage firm Zerodha and National Bank for Agriculture and Rural Development (Nabard).
The EPFO is now developing a software that will help show retirement savings in cash and ETFs components separately. At present the account only shows the savings as gross cash component.
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.
