While some trade union leaders have welcomed the move, industry has opposed it, fearing an increase in its wage bill
Madhya Pradesh has nearly 750,000 employees who would share the benefit of the pay hike.
Travel expenses given to members of Parliament have come under the scrutiny of the Delhi high court, which asked the Centre to explain the "rationale" behind such benefits.
Besides managing retirement funds, EPFO may come out with a scheme to provide housing to its over 5 crore (50 million) subscribers on additional contribution of 10 per cent by them from their basic wages every month.
This time, five states, including Tamil Nadu, have requested the Centre to delay the pay hikes.
The state is now under pressure to revise the salaries of its 800,000 employees, which would add to the strain of an already debt-laden state exchequer.
The UPA government's decision to ensure a minimum pension of Rs 1,000 a month under the retirement fund body EPFO's scheme, which will immediately benefit 28 lakh pensioners, is going to be a reality soon.
It is not advisable to touch retirement corpus if property is being purchased for investment.
The employers often split wages into different allowances to reduce their PF liability and also increase the take home pay of their workers.
Most insurers aren't comfortable with subscribing to the National Pension System as they see it as competition.
While still not as drool-worthy as their private sector counterparts, the hike is quite hefty, and across segments
Is there a conflict of interest in civil servants having a decisive say on the recommendations made by a Pay Commission or is it time for a new review mechanism, asks A K Bhattacharya.
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.
Rajan's total 'monthly emoluments' stands at Rs 198,700
Banking services are likely to be affected for the next four days as employees of PSU banks plan to go on a zone-wise relay strike beginning with Southern region from Tuesday, after wage revision talks failed.
The finance minister may stagger some of the recommendations.
The statement said the food inflation stood at 7.56 per cent in February, 2014, against 8.94 per cent of the previous month and 14.98 per cent during the corresponding month of the previous year.
Investments and expenses under section 80 C allows various tax benefits, says Harjot Singh Narula
Anticipating healthier economic growth, the Railways has targeted a record Rs 1.6 lakh crore in revenue for the next financial year, while no increase has been proposed in passenger fares and freight rates.
On maturity, 40 per cent of the accumulated corpus can be withdrawn tax-free.
The scheme has been extended to all categories of employees.
Just hours after the union at Bajaj Auto's Chakan plant called off its strike unconditionally, managing director Rajiv Bajaj spoke to Business Standard.
The law of diminishing returns catches up as one goes up the ladder.
Demonetisaton has left many daily wage earners scrambling for a living.
These firms offer job security and lucrative salries.
The celebrations after the 2017 World Cup went on for the next few months. But there was one question that the Indian cricketers failed to respond to in their interviews. 'What was their next assignment?' Nobody knew; the players were waiting for the BCCI to tell them. The BCCI, with barely any time from its endless legal tangles, had nothing in mind immediately. The likes of Australia and England were back on the field, battling it out in the Ashes in front of sizeable crowds. But for Mithali Raj and team, there was no road ahead.
The higher salaries and pension outgo will be equivalent to about one per cent of the GDP.
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The introduction of fuel adjustment component in passenger fares will merely add Rs 450 crore.
Though it may be anecdotal, there are some HR people who cannot reconcile their own salary from a CTC to take home!
With China and Bangladesh losing their edge, textile exports from Tirupur are rising once again, turning the city into a job magnet.
B D Agarwal, who is India's largest manufacturer and exporter of guar gum powder is taking the Congress by storm Rajasthan
But do not expect the finance minister to fulfil all these wishes
Instead of a consumption stimulus the government must address the NPA issue with a war footing and invest in infrastructure, affordable housing and exports, says Sanjeev Nayyar.
Can't believe you can file your income tax return without Form 16? Read this...
Household consumption recovered in urban India in May-July but remains weak in rural.
The deduction will be higher and net take-home pay will fall.
Upon implementation of the 7th Pay Commission the expected yearly burden on the central exchequer will be more than Rs 100,000 crore. Central government employees will get on an average a 24 per cent pay hike. Still, the unions aren't happy.
Debt returns are always negative for investors in India, unless they are willing to take huge risk
'The corporate sector says by 2022 they will create 300 million jobs.' 'In the last 70 years we didn't do it, how will we do it in 5 years?' 'Only agriculture can bail out the economy. Unfortunately, it is not being looked into.'
Should Sasikala seek to follow Jayalalithaa's footsteps in the matter, and if at all she is not disinterested in keeping the twin posts together, the by-election to Jayalalithaa's constituency R K Nagar could be the starting point, says N Sathiya Moorthy.
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