The EPFO pays rate of return to its subscribers on the basis of returns it generates from its investments.
7 million jobs will be created in formal sector in FY18
Businesspersons who have the potential to contribute to the economy of a country are given a red carpet welcome by way of a start-up visa.
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.
'The estimated expenditure is expected to be more than double the Rs 60,000 crore spent in 2019'
Around 20 lakh pensioners to benefit from govt new pension scheme.
EPFO has recently issued Universal PF Account Numbers for 4.17 crore contributing members.
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.
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.
The new form does not require attestation by employer and can be submitted directly to the concerned EPFO offices
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.
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.
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.
The senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
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.
Unique Identification Authority of India said the alleged data breach took place on a website that does not belong to it.
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.
'I was laughing and crying at the same time. Right now, just extremely happy that she will be out and amongst us soon.'
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.
"People in India are benefiting from the whole process of liberalisation," Finance Minister Arun Jailtey said.
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.
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.
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.
'Everyone is unhappy with the lieutenant governor's administration, which is ignorant, high-handed, and inaccessible.'
If someone does reduce his contribution, he should scale it back to the 12% level as soon as he can, suggests Sanjay Kumar Singh.
After complaints that the new law may impact employment of women, the government has framed a scheme to provide monetary incentive to companies, reports Somesh Jha.
Whether it is for disaster relief or a personal cause, some online platforms help you raise funds for a fee.
The generation of quality jobs and skill development should be the focal point, cutting across ministries and departments, asserts Nivedita Mookerji.
Post office savings of 1, 2 and 3 year term deposits and 5-year recurring deposit currently fetch 8.4 per cent interest per annum.
EFPO launched a number of new facilities this year.
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.
The payroll data has been revised downwards for each of the nine months between September 2017 and May this year
Labour Ministry has notified new investment pattern for EPFO.
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.
A government panel examined the records of employees surveyed by Labour Bureau's quarterly enterprises surveys and mapped it with the EPFO's subscribers and found "unexplained variations" between the two.
The case relates to alleged terror funding in 2017 in the valley and involves Jamaat-ud-Dawah (JuD) chief Hafiz Saeed, the 2008 Mumbai terror attack mastermind based in Pakistan.
The Employees' Provident Fund Organisation and the Labour Ministry are in touch with the Prime Minister's Office for the purpose, a senior official said.
The proposal has been discussed by Sebi's Committee on Rationalisation of Financial Resources, which favours setting up such a fund.
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).
